Cabinet to decide on Air India's future: Patel -Governance Now

Cabinet to decide on Air India's future: Patel

AI to raise working capital by Rs 1,000 crore

PTI | February 22, 2010

The government would take a call on the future of ailing Air India, which plans to raise its working capital by Rs 1,000 crore in the near future.

"We will put the whole picture before the Cabinet," Civil Aviation Minister Praful Patel told reporters here when asked what decisions the government was contemplating on the cash-strapped airline.

The government had last week approved an equity infusion of Rs 800 crore for the national carrier, following which the airline decided to raise its working capital from Rs 17,000 crore to Rs 18,000 crore.

A decision to this effect was taken at a Board meeting of the National Aviation Company of India Limited (NACIL), which runs the national carrier, on Saturday. The move would help the airline to raise resources from the market to fund its fleet acquisition as well as other operational costs.

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