BUSINESS
Once the government gives the clearance, it will be the second tranche of equity infusion into the state-owned airline after the release of Rs800 crore in the last financial year.
Civil aviation minister Praful Patel today met Planning Commission deputy chairman Montek Singh Ahluwalia amid indications that a decision by the government on releasing additional equity of Rs1,200 crore to Air India will be taken in a couple of weeks.
Once the government gives the clearance, it will be the second tranche of equity infusion into the state-owned airline after the release of Rs800 crore in the last financial year.
Patel, who was accompanied by civil aviation secretary SNA Zaidi and Air India CMD Arvind Jadhav at the meeting that lasted over 30 minutes, refused to give details of the discussions.
Sources said the issue of additional equity infusion in Air India was on the cards for several months now, even though the national carrier failed to achieve some key targets for cost-cutting and revenue enhancement set by the government as a condition.
Independent directors on the Air India board had raised the matter with principal secretary to the prime minister TKA Nair last month.
The issue of additional equity infusion for clearance is likely to come up before the Cabinet committee on economic affairs in the next couple of weeks. A Cabinet note on equity infusion has already been circulated by the civil aviation ministry.
Air India posted a net loss of Rs5,551 crore in the year ended March as against the net loss of Rs7,189 crore in 2008-09. Its total expenditure also decreased by 8% and stood at Rs19,035 crore compared to Rs20,668 crore in the last fiscal.
The airline also reported a decline in its operating losses by 39% from Rs5,672 crore in 2008-09 to Rs3,472 crore in 2009-10.
Who is Meghnad S? YouTuber and journalist who contested Delhi assembly polls 2025 from...
Does Sanya Malhotra's 'Mrs' promote a no-marriage culture among women?
BIG blow to Sundar Pichai as Google loses Rs 17501260000000 due to…
Caring for Ageing Parents? Essential tips to manage health, finances, and well-being
Meet Gautam Adani’s daughter-in-law Paridhi Adani: Know about her assets, career, family, and more
Jeet Adani-Diva Shah wedding: Inside pics from Gautam Adani's son's wedding festivity
Why has Premanand Maharaj stopped his morning yatras at 2 am?
Sonu Sood BREAKS SILENCE on arrest warrant against him in fraud case: 'It is sad that celebs...'
Akshata Murty once confronted her father and Infosys co-founder Narayana Murthy: 'My real dad is...'
Meet Alexis Wilkins, Trump's FBI chief pick Kash Patel's 'mystery girlfriend,' her profession is...
Fire breaks out at Mahakumbh Nagar camp, officials say no casualties reported so far
Who is Mohini Mohan Datta, mystery man set to get Rs 500 crore through Ratan Tata's will?
Cristiano Ronaldo makes shocking statement, breaks Portugal's hearts: 'I never thought about...'
Ludhiana court issues arrest warrant against Sonu Sood in fraud case
Happy Rose Day 2025: Significance of different coloured roses on Day 1 of Valentine's week
Salman Khan REVEALS why he avoids eating beef and pork: 'Main maanta hu meri maa...'
Shah Rukh Khan-Saif Ali Khan vs Aryan Khan-Ibrahim Khan: Who should be in KHNH2!
Why Israel's Benjamin Netanyahu gifted Donald Trump golden pager? It is a reference to...
Mob in Bangladesh destroys ousted PM Sheikh Hasina's family home
ISRO's EOS-06 satellite captures Phytoplankton concentration on global scale
IND vs ENG: Will Virat Kohli play in 2nd ODI vs England? Shubman Gill provides huge injury update
Who is Kiran Chaudhury? PCS officer caught in bribe case, just 4 years after posting
Jeet Adani-Diva Shah's wedding today: Know venue, gifts for guests and more
Meet woman, who works in Rs 163000 crore company, daughter of Hyderabad’s richest man
This is world's greenest railway station, 170 years old, home to over 7,000 plants, it's in....
As Sky Force nears Rs 150 crore, Nimrat Kaur treats househelp, her kids with movie screening
IND vs ENG: Shreyas Iyer creates history, becomes first player to achieve THIS massive milestone
Meet man, India's richest banker, who has bought Rs 202 crore property, his net worth is Rs...
'Heard there was....': Former India head coach provides major update on Virat Kohli's injury
A New Geopolitical Era: India and Israel's Role in the Evolving Middle East
David Warner’s touching moment with fans after Dubai Capitals reaches final of DP World ILT20
India’s Largest Book Stall Network: PrashantAdvait Foundation’s Mission to Revive Reading Culture
Mawra Hocane stuns in pastel mint green lehenga at her wedding to Ameer Gilani
Deepinder Goyal's Zomato changes its name, CEO shares journey of company, it is now called...
Rose Day 2025: Know the date, history, significance of each rose colour ahead of Valentine's day
'BJP-led NDA works for Santushtikaran, not Tushtikaran': PM Modi in Rajya Sabha
Who is Belle Gibson? Australian wellness guru created fake cancer story and later...
DP World ILT20 2025: Dubai Capitals clinch last ball thriller against Desert Vipers to reach final
Jeet Adani-Diva Shah wedding: First pic from Gautam Adani's mansion OUT as wedding festivities begin
Sunita Williams’ Spacewalk: A Record-Breaking Mission and a Stunning Selfie from Space
IND vs ENG: Ravindra Jadeja creates history in Nagpur, surpasses James Anderson to become....
Can IAS officers change cadres after marriage? Here's what rules say
Pavan Kumar Joshi innovates unemployment benefits payment security
Anil Ambani's company's share price surges over 6 per cent after it earns profit of Rs...
Why Dale Bhagwagar is Bollywood's only PR guru
Meet Anjum Khan, wife of cricket star Shivam Dube, her net worth is Rs...
IAF Mirage 2000 fighter aircraft crashes in MP's Shivpuri during training sortie
Meet IAS Tina Dabi's mother, who cleared UPSC to become IES, later resigned due to...