Air India wants a Rs2300 crore parachute

New Delhi: The National Aviation Company of India Limited (NACIL), the merged entity of Air India and Indian, is looking at the government for a Rs2,300 crore infusion to get it up and running once again.

NACIL is seeking Rs1,300 crore to address working capital issues, and another Rs1,000 crore as soft loan, citing a plethora of operational and industry-induced problems to advocate its plight during a meeting chaired by civil aviation minister Praful Patel some days ago.

The carrier's net loss for 2007-08 is being around Rs2,144 crore. The number is predicted to more than double during the current fiscal if NACIL doesn't get some sort of infusion to keep it afloat.