×
E-PAPER ▾

E-paper

Business

Air India plans to take Rs 3,250 cr loans for ‘urgent’ capital needs

| | New Delhi

National carrier Air India plans to take short-term loans of up to Rs 3,250 crore to meet ‘urgent working capital requirements’, according to a document.  The disinvestment-bound airline, which is staying afloat on taxpayers’ funds, expects to get the Central Government’s guarantee for the proposed borrowings shortly.

As part of efforts to revive the loss-making Air India, a ministerial panel is working on the modalities for strategic disinvestment of the carrier and its five subsidiaries. Against this backdrop, the airline seeking short-term loans assumes significance as it implies possible funds crunch. In a tender document issued today, the carrier said it is “looking for Government guarantee backed INR short-term loans totalling up to Rs 3,250 crore in the first phase to meet its urgent working capital requirements by September 25, 2017”.         

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

I am with you, Pawar tells victims of social media trolls

15 Oct 2017 | IANS | Mumbai

Coming out in support of young victims of social media trolls, Nationalist Congress Party (NCP) President Sharad Pawar on Saturday exhorted them to speak out against the wrong policies of the Government and oppose growing incidents of intolerance and fascism across India. In an unique initiative, Pawar met around 35 youngsters who have been threatened on social media and/or booked by police for speaking out their minds against the Government and...

Read More

STATE EDITIONS

View All

Three-day film festival on Kundan Shah from Oct 25

21 Oct 2017 | Staff Reporter | Bhopal

A three-day film festival based on renowned filmmaker Kundan Shah will be organised in city. The film festival is all about the movies by Kundan Shah...

Read More

Page generated in 1.2582 seconds.