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Air India requires USD620 million to “keep it going”

In late Aug-2009, Minister for Civil Aviation, Praful Patel, announced Air India, which has “never operated smoothly”, requires an equity infusion of approximately USD620 million to “keep it going” and strengthen the carrier’s equity base from the current level of USD30.3 million. Mr Patel added that while he believes the carrier “should be sold”, he does not subscribe the word ‘bailout’ to Air India, as the Indian Government has “never spent a rupee for the airline”.

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