Air India's CMD designate seeks bridge capital from government
28 March 2008
New Delhi: In his first interaction with the media, Air-India chairman and managing director-designate, Raghu Menon, said the company will seek capital infusion from the government to improve its financial health.
''We are already borrowing money for fleet acquisition. If the government infuses some bridge capital it will improve the company's financials,'' Menon said. The airline reported a loss of around Rs450 crore in 2006-07.
Maintaining time schedules and boosting customer satisfaction would be the two other focus areas for the airline, Menon said.
He also said that it would take two years to complete the physical merger of Indian Airlines and Air-India, which have been merged into a new company - National Aviation Co of India Ltd (NACIL).
NACIL began operations August 2007.
Menon, uptill now a special secretary cum-financial advisor in the civil aviation ministry assumes charge on 1 April.