AI expects provision of Rs1,200-cr in forthcoming budget
04 Feb 2010
Aamby Valley, Maharashtra: Struggling carrier Air India expects the government to provide Rs1,200 crore for it in the forthcoming budget, according to civil aviation minister Praful Patel.
"We expect a Rs1,200 crore provision for Air India in the budget," Patel told reporters on the sidelines of a function on Thursday.
He also said he expects the government to pay Rs800 crore to enhance equity over the next eight to ten days.
Only yesterday, Patel had said in Delhi that even as equity infusion takes place over the next few days, the Government expected to Air India to take "extraordinary" measures as part of its restructuring exercise.
On the issue of equity infusion of Rs800 crore, Patel had said soon after a meeting of a Group of Ministers formed to revive Air India, "We are moving the Cabinet. A note has already been circulated, I think by next week the Cabinet approval should come."
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