Cabinet nod for Rs 4000-cr AI restructuring

April 12, 2012 12:48

News just coming in says that the Cabinet has approved the restructuring of Air India, though FDI in aviation has been deferred for a week..

In what comes as a big fillip to Air India, the government will approve the turnaround plan, including the issue of infusion of additional equity, in a bid to shore up the precarious financial position of the cash-strapped carrier.

As part of Air India's restructuring, the government has decided to infuse Rs 4,000 crore as additional equity during the current fiscal. This would raise the airlines' equity base to Rs 7,345 crore.

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