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Government to infuse USD113m into Air India in current fiscal year

3-Aug-2011 9:43 AM

India's junior Minister for Finance Namo Narain Meena stated the government would infuse INR5 billion (USD113 million) as equity into Air India in the current fiscal year (PTI/Dow Jones, 02-Aug-2011). The funding will be through two equal installments of INR2.5 billion (USD56.5 million). The government has already infused INR20 billion (USD452 million) in the carrier as equity in two installments as of 31-Mar-2011. Meanwhile, the government has sought parliament's approval to provide Air India INR4.25 billion (USD96.1 million) as reimbursement for costs incurred for VVIP services during 2008-10.