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Air India - Big bailout needed as losses mount


Air India confirmed in mid-Aug-08 that it would seek a minimum of INR20 billion (USD458 million) in fresh equity and soft loans from the Indian Government shortly, to fund its increasingly demanding working capital requirements. Chairman & Managing Director, Raghu Menon, stated, “we have not finalised any number [for government support] so far. But it could be more than INR2,000 crore (USD458 million)”. [910 words]

Unlock the following content in this report:


  • Cost-cutting takes wing
  • Replacing older aircraft as new ones deliver
  • Expanding in the increasingly cut-throat Gulf
  • No change to foreign ownership rules - yet
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