Cabinet approves Air India financial restructuring

NEW DELHI Thu Apr 12, 2012 12:54pm IST

Air India aircrafts stand on the tarmac during heavy rains at the Indira Gandhi International Airport in New Delhi July 15, 2010. REUTERS/B Mathur/Files

Air India aircrafts stand on the tarmac during heavy rains at the Indira Gandhi International Airport in New Delhi July 15, 2010.

Credit: Reuters/B Mathur/Files

Related Topics

NEW DELHI (Reuters) - The cabinet on Wednesday approved a financial restructuring plan for national carrier Air India, which includes equity infusion by the government and restructuring of $4 billion in debt.

India's flagship-carrier has been hit by high fuel costs and cut-throat competition that has beset the country's aviation industry, in which only one of six airlines is currently profitable.

(Reporting by Nigam Prusty; Editing by Aradhana Aravindan)

FILED UNDER:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage