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.



Other News

‘World’s biggest festival of democracy’ begins

The much-awaited General Elections of 2024, billed as the world’s biggest festival of democracy, began on Friday with Phase 1 of polling in 102 Parliamentary Constituencies (the highest among all seven phases) in 21 States/ UTs and 92 Assembly Constituencies in the State Assembly Elections in Arunach

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool

Indian Railways celebrates 171 years of its pioneering journey

The Indian Railways is celebrating 171 glorious years of its existence. Going back in time, the first train in India (and Asia) ran between Mumbai and Thane on April 16, 1853. It was flagged off from Boribunder (where CSMT stands today). As the years passed, the Great Indian Peninsula Railway which ran the

Vasudhaiva Kutumbakam: How to connect businesses with people

7 Chakras of Management: Wisdom from Indic Scriptures By Ashutosh Garg Rupa Publications, 282 pages, Rs 595

ECI walks extra mile to reach out to elderly, PwD voters

In a path-breaking initiative, the Election Commission of India (ECI), for the first time in a Lok Sabha Election, has provided the facility of home voting for the elderly and Persons with Disabilities in the 2024 Lok Sabha elections. Voters above 85 years of age and Persons with Disabilities (PwDs) with 4

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Current Issue


Facebook Twitter Google Plus Linkedin Subscribe Newsletter