Air India could soon get equity infusion worth Rs 2,345 crore as part of the financial turnaround plan to meet its working capital requirements, reports Financial Express.
The government has sought the Parliament’s approval to grant Rs 2,345 crore to the ailing carrier and 1,300 crore for Air India Asset Holding Company, the special purpose vehicles (SPV) holding the airline’s debt.
The proposal was part of the supplementary demands for grants 2018-19 tabled by finance minister Arun Jaitley in the Lok Sabha.
Air India was supposed to get Rs 30,231 crore as per a 10-year bailout package announced in 2012. The airline, till now, has already received funds to the tune of Rs 27,264 crore.
After a failed attempt to privatise Air India earlier this year, government is working on a new model to change Maharaja’s fortunes. Read more