Air India may get INR300b loan write-off, cash infusion of up to INR110b: Report
In an attempt to revive cash-strapped Air India, the govt may write off INR300b (US$4.29b) loan and pump in about INR100b-INR110b, reported the Economic Times citing people aware of the development. Grappling with huge debts and tough business conditions, the ailing carrier is saddled with a debt of over INR500b. The financial daily quoted the people as saying the bailout package will include accumulated losses will be written off, allowing the company to clean up its balance sheet. “Small cash infusions are not making any dent. We want to put the airline in a commercially viable situation,” one of the officials said. Civil aviation secretary RN Choubey confirmed that talks are on for a rescue package for Air India. If the package okayed, this will be the second bailout for the carrier in the last 5 years. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-08-14/star/air-india-may-get-inr300b-loan-write-off-cash-infusion-of-up-to-inr110b-report
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Air India may get INR300b loan write-off, cash infusion of up to INR110b: Report
In an attempt to revive cash-strapped Air India, the govt may write off INR300b (US$4.29b) loan and pump in about INR100b-INR110b, reported the Economic Times citing people aware of the development. Grappling with huge debts and tough business conditions, the ailing carrier is saddled with a debt of over INR500b. The financial daily quoted the people as saying the bailout package will include accumulated losses will be written off, allowing the company to clean up its balance sheet. “Small cash infusions are not making any dent. We want to put the airline in a commercially viable situation,” one of the officials said. Civil aviation secretary RN Choubey confirmed that talks are on for a rescue package for Air India. If the package okayed, this will be the second bailout for the carrier in the last 5 years. <br/>
