Cabinet approves Air India financial restructuring
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)
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