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Revival plan for AI

The civil aviation ministry Thursday indicated that it was going ahead with a revival plan for Air India, whose divestment earlier this year did not take off. As part of this plan, civil aviation minister Jayant Sinha said that the govt has prepared a revival plan for Air India which “focuses on building a competitive and profitable airline group”. Sinha said a comprehensive financial package, including transferring non-core debt and assets to a special purpose vehicle would be introduced as part of the plan. The airline would also try and achieve “higher levels of operational efficiency by strengthening management and implementing best practice business processes, organisational and governance reforms and differentiated business strategies for each of Air India’s core businesses”. <br/>