Loading Ticker...
You Are Here: Home » Airlines

Rs. 30,000 crore And 27 Boeing 787 Dreamliners for Air India

The government today have made it known to the public that there is a turnaround package equity infusion over a nine-year period on Air India that cost Rs 30,000 ccore. This is together with the induction of 27 Boeing 787 Dreamliners. Also, the government had approved to subsidize Air India’s MRO and its Engineering Services.

Air India Logo

Air India

This decision had placed 19,000 of around 28,000 employees with them. According to Ajit Singh, the airline would get an upfront equity of RS 6,750 crore which is under the Financial Restructuring Plan and the approved Turnaround Plan for the airline.

Since the airline has been in a big financial crises with their Rs 21,200 crore working capital loans, the government allowed them to issue non-convertible debentures worth Rs 7,4000 to its lenders. This is to repay the big loans that they have. The government is really doing their best to aid this airline since it is not only for the good of the government, but also for the people who will be affected when the problem gets worst.

via


Share this post

Subscribe to our updates via e-mail or get our  RSS Feed
Enter your email address:


Other Related Stories: