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AI got Rs 30K cr equity infusion from FY12: Govt
Debt-laden Air India has received an equity infusion of Rs 30,520.21 crore from financial year 2011-12 till date, the government said on December 5 and reiterated that it is committed to the disinvestment of the national carrier.
By
migrator
migrator
New Delhi
In April 2012, the then central government approved a Turnaround Plan (TAP)/ Financial Restructuring Plan (FRP) for reviving Air India, which has been in the red since merger of Indian Airlines in 2007-08.
To prepare for the disinvestment, the government is implementing a strategic plan, which includes a financial package and focus on increasing operational efficiencies, Minister of State for Civil Aviation Hardeep Singh Puri said.
The major components of the financial package for 2018-19 included a cash support of Rs 3,975 crore to Air India, inclusive of Rs 1,630 crore already infused in the airline in 2018-19.
Another component was for providing a “government guarantee of Rs 7,600 crore, inclusive of Rs 3,000 crore already provided to Air India in 2018-19, to raise new debt for payment of stretched liabilities.”
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