New Delhi:
The ailing state-run carrier Air India is all set to get a fresh lease of life. Civil Aviation Minister Praful Patel has announced that India will infuse equity of Rs 800 crore into the national carrier by December.
"We are looking at equity infusion of Rs 800 crore to Air India in the next two months. That would be initial tranche and as we have said we would be monitoring the monthly progress before we move into the next tranche of giving equity support," he said.
Earlier in October, Patel had said that the government would back Air India with up to 50 billion dollars if the carrier made the same amount through cost cuts and other measures, a proposal protested by unions.
"We are looking at equity infusion of Rs 800 crore to Air India in the next two months. That would be initial tranche and as we have said we would be monitoring the monthly progress before we move into the next tranche of giving equity support," he said.
Earlier in October, Patel had said that the government would back Air India with up to 50 billion dollars if the carrier made the same amount through cost cuts and other measures, a proposal protested by unions.
Track Latest News Live on NDTV.com and get news updates from India and around the world
