Govt To Fund Air India Rs 30000 Cr For Restructuring

Central government announced to help Air India with a fund of Rs 30000 cr for restructuring the airline. civil aviation minister Ajit Singh informed the media today after end of cabinet meeting.

State-run carrier Air India is in bad shape financially and making huge loss every day. It has not paid salaries to the employees on time. Government supports with Rs 6,750 crore in 2012 to start the regular business smoothly.

“As part of the financial restructuring plan for Air India, Central Government will infuse a lot of money. About Rs 30,000 crore will be infused in Air India till 2020. But it will have a lot of checks at different levels,” said Ajit Singh.

However Singh said that there is no decision yet on 49% FDI in aviation and the matter will go to cabinet approval very soon.

Air India will also receive first Dreamliner aircraft in two weeks.

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