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Air India plans to take Rs 3,250 cr loans for ‘urgent’ capital needs
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”.
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Sunday EditionView All
15 Jul 2018 | PTI | New Delhi
Amid row over alleged use of derogatory language in a web series while referring to former Prime Minister Rajiv Gandhi, Congress chief Rahul Gandhi on Saturday said the BJP and the RSS believe that freedom of expression must be policed, while he regards it as a fundamental democratic right. “My father lived and died in the service of India...
STATE EDITIONSView All
21 Jul 2018 | Staff Reporter | Raipur
Chief Minister Raman Singh on Friday expressed profound grief over the death of former State Finance Minister Dr Ramchandra Singhdeo. The Chief Minister reached the residence of legendary leader in the capital and paid floral tributes...