Uncategorized

Air India to get fresh equity worth Rs.800 crore

New Delhi, Feb 18 (Calcutta Tube) Beleaguered national carrier Air India will get equity infusion of Rs.800 crore ($160 million) to tide over its cash flow problems and finance the fleet expansion plans.

A meeting of the Cabinet Committee on Economic Affairs, presided over by Prime Minister Manmohan Singn here Thursday, approved the fresh equity for National Aviation Co of India Ltd, the company that runs the national carrier.

The airline had posted a loss of Rs.7,200 crore last fiscal.

Leave a Reply

Your email address will not be published. Required fields are marked *