Air India gets US$145m funding from the govt
The govt has infused another INR9.27b into Air India this month as part of a fund infusion agreed upon almost a decade ago, and which it has promised to continue even as it works towards selling part of its stake in the airline. The infusion is timely because the airline has been facing a cash crunch and, in fact, delayed salaries for some employees. Many state-owned banks have also become cautious about lending to the airline, given the move to privatise it. The airline has asked its parent ministry (the ministry of civil aviation) to speak to the finance ministry on this count. The aviation ministry told Parliament this month that it would continue to support Air India as per the approved turnaround plan and would honour financial obligations till further directions. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-16/star/air-india-gets-us-145m-funding-from-the-govt
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Air India gets US$145m funding from the govt
The govt has infused another INR9.27b into Air India this month as part of a fund infusion agreed upon almost a decade ago, and which it has promised to continue even as it works towards selling part of its stake in the airline. The infusion is timely because the airline has been facing a cash crunch and, in fact, delayed salaries for some employees. Many state-owned banks have also become cautious about lending to the airline, given the move to privatise it. The airline has asked its parent ministry (the ministry of civil aviation) to speak to the finance ministry on this count. The aviation ministry told Parliament this month that it would continue to support Air India as per the approved turnaround plan and would honour financial obligations till further directions. <br/>
