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)
- Tweet this
- Share this
- Digg this
- Thousands raised to buy car for Pennsylvania sniper's lookalike
- WHO vaccines boss signs up as Ebola trial guinea pig
- UPDATE 4-P&G to exit Duracell battery business; quarterly sales dip
- Two U.S. states to quarantine health workers returning from Ebola zones |
- UPDATE 10-Two U.S. states to quarantine health workers returning from Ebola zones
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article