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Labels: Abu Dhabi, Barclays, Business, Foreign, Government, International Petroleum Investment Company, Mansour bin Zayed Al Nahyan, Middle East, Premier League, Travel and Tourism, United Arab Emirates |Govt may provide Air India Rs 2,500 cr to see through crisis
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"It is owned by the government and as like any owner of a company, government should be ready to infuse liquidity into it. Air India has a very small liquidity base of Rs 145 crore and with an estimated aircraft of Rs 40,000 crore it is absolutely unacceptable.
"There is need to infuse further liquidity to make Air India a viable entity," Civil Aviation Minister Praful Patel told reporters here.
The 77-year-old airline, which initiated a fleet renewal programme three years ago and merged with its sister airline Indian last year, has proposed infusion of Rs 1,000-1,500 crore of equity capital.
It is also looking for soft loans to the tune of Rs 1,000 crore from the government that can be repaid over a period of time.
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