Cabinet approves Air India financial restructuring

The cabinet on Wednesday approved a financial restructuring plan for national carrier Air India, which includes equity infusion by the government and restructuring of USD 4 billion in debt.

April 12, 2012 / 02:50 PM IST

The cabinet on Wednesday approved a financial restructuring plan for national carrier Air India, which includes equity infusion by the government and restructuring of USD 4 billion in debt.

India's flagship-carrier has been hit by high fuel costs and cut-throat competition that has beset the country's aviation industry, in which only one of six airlines is currently profitable.

Tags: #Air India #airlines #Cabinet #Current Affairs #debt #equity infusion #financial restructuring #national carrier

first published: Apr 12, 2012 01:02 pm

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Cabinet approves Air India financial restructuring

The cabinet on Wednesday approved a financial restructuring plan for national carrier Air India, which includes equity infusion by the government and restructuring of USD 4 billion in debt.