Cash-strapped Air India given USD267m equity infusion
On 30-Dec-2010 India's Cabinet Committee on Economic Affairs approved an infusion of INR12 billion (USD266.9 million) as equity for state-owned national carrier Air India. The Government also stated it had earlier released INR800 crore (USD177.9 million) in Feb-2010 as equity induction in the National Aviation Company of India Limited (NACIL), now Air India, for its revival plan. [1511 words]
Unlock the following content in this report:
- Rationalisation of wage structure required
- Debt levels of around USD9bn; equity base of USD222m
- Air India reports improving yields, load factors and revenues
- Air India to lease 40 new aircraft, first B787 by Sep-2011Air India to wet lease four aircraft to Air India Express; has 29% of Indian fleet
Graphs and data:
- Indian domestic market share: Nov-2010
- Air India financial highlights for the eight months ended 30-Nov-2010
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