Air India's August passenger revenues up 12 per cent

Mumbai: State-owned Air India said Thursday that passenger revenues for August was at Rs998 crore, up 12.3 per cent from Rs889 crore a year ago. It also said growth was helped by an increase in load factors.

The financially beleaguered carrier also said it had received Rs1200 crore by way of equity infusion from the government in the period 2011-12.

At its meeting the carrier's board approved the appointment of Rohit Nandan as its new chairman and managing director.

Air India is negotiating with lenders to restructure approximately Rs19,000 crore ($4 billion) of working capital debt and is revising turnaround plans.

It is now mulling over a decision to induct 27 Boeing 787 Dreamliners, ordered in 2005, which will sink it deeper in debt.