Tuesday, June 14, 2011

Air India restructuring plan to come up before GoM for approval

New Delhi, Jun 14 (PTI) Ailing Air India's turnaround plan, including restructuring of its massive debt, would come up before a Group of Ministers for approval in a few weeks.
"The turnaround plan has been approved by the bankers.
... Now it needs to go to a Group of Ministers (GoM) and it should happen very fast ... within the next couple of weeks," Civil Aviation Minister Vayalar Ravi said here.
To questions on further equity infusion by the government in the cash-strapped national carrier, he said his Ministry was holding "regular dialogue with the Finance Ministry. We will continue this dialogue and go to the GoM when necessary".
Government has already set aside a provision of Rs 1,200 crore in the budget for infusing equity in Air India in this financial year.

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