The government is understood to have decided to infuse additional equity in Air India and give a soft loan to counter the financial crunch, as a high-level Committee today asked the Civil Aviation Ministry to move a note on the issue for consideration of the Union Cabinet.
The Committee of Secretaries, headed by Cabinet Secretary K M Chandrasekhar, which reviewed the turnaround plan of the ailing carrier, directed the Ministry to prepare the cabinet note on the matter.
The note, to be prepared in consultation with the Finance Ministry, would be ready for circulation to the Cabinet Ministers in the next seven to ten days, official sources said after the meeting here.
Though there was no official confirmation of the quantum of equity infusion and the soft loan the government could give to the national carrier, there were indications that its equity base, which now stands at only Rs 145 crore, would be enhanced by at least Rs 2,500 crore.
While the government would make only a partial contribution as equity infusion to the airline, a major part of resource mobilisation is likely to be through issuance of Initial Public Offer or infrastructure bonds, they said, adding the Cabinet would now take a final call on the issue
0 comments:
Post a Comment