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Air India to receive USD265m equity infusion by Jun-2010

10-May-2010 11:39 AM

Indian Minister for Civil Aviation, Praful Patel, announced the Indian Government will provide a USD265.1 million equity infusion to Air India by Jun-2010 in one transaction (The Economic Times, 10-May-2010). Mr Pate added the carrier will have to “focus on marketing” and its turnaround plan will “have to include that aspect”. Part of the equity infusion will be used to fund up to 15% of the pre-delivery payment to Boeing for its order of 27 B787s, which are expected to commence delivery in 2011.