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Thursday November 12, 06:00 PM
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Govt to infuse equity into Air India by March - min
NEW DELHI (Reuters) - The government will infuse equity into ailing state-run carrier Air India by March, Aviation Minister Praful Patel told reporters on Thursday.
Patel said the airline would have to generate 20 billion rupees through cost cuts and revenue gains.
In October, Patel said the government would back Air India with up to 50 billion rupees if the carrier made the same amount through cost cuts and other measures, a proposal which was protested by unions.
(Reporting by Rajkumar Ray and Manoj Kumar; Editing by Ramya Venugopal)
