Restructuring of Air India
Thursday, 11 August 2011 20:58
A Group of Ministers (GOM) has been monitoring the financial position of Air India. In its meeting held in February, 2010 the GOM had directed Air India a viable and credible Tourn Around Plan (TAP).
Air India has presented its Tourn Around Plan and Financial Restructuring Plan (FRP) before the GOM in June, 2011. The GOM has directed a Group of Officers to examine the TAP and FRP prepared by Air India within six weeks.
The Government has made it compulsory for its official to travel by Air India while on tour and availing Leave Travel Concession w.e.f. 13.7.2009. Part time non-official members have also been appointed on Air India Board to render professional advice.
Government guarantee at reduced rate has also been provided for the long term loans taken by Air India for acquisition of new aircraft. Government has also infused equity of Rs. 800 crore during 2009-10, Rs.1200 crore in 2010-11 and ad-hoc equity of Rs.710 crore during this year.
This information was given by the Minister of Civil Aviation, Vayalar Ravi in a written reply in the Rajya Sabha today.
Source : PIB
Air India has presented its Tourn Around Plan and Financial Restructuring Plan (FRP) before the GOM in June, 2011. The GOM has directed a Group of Officers to examine the TAP and FRP prepared by Air India within six weeks.
The Government has made it compulsory for its official to travel by Air India while on tour and availing Leave Travel Concession w.e.f. 13.7.2009. Part time non-official members have also been appointed on Air India Board to render professional advice.
Government guarantee at reduced rate has also been provided for the long term loans taken by Air India for acquisition of new aircraft. Government has also infused equity of Rs. 800 crore during 2009-10, Rs.1200 crore in 2010-11 and ad-hoc equity of Rs.710 crore during this year.
This information was given by the Minister of Civil Aviation, Vayalar Ravi in a written reply in the Rajya Sabha today.
Source : PIB
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