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Air India's loans erode benefits of govt bailout - federal auditor
March 10, 2017 / 7:58 AM / 6 months ago

Air India's loans erode benefits of govt bailout - federal auditor

NEW DELHI, March 10 (Reuters) - India’s government may need to reassess the amount of bailout funds given to state-run carrier Air India because the airline’s short-term loans have weighed on its finances, the federal auditor said in a report on Friday.

Heavily-indebted Air India, which was bailed out in 2012 with $5.8 billion of government funding, should also monetise more of its assets faster and speed up the leasing of narrow-body aircraft to improve its performance, the Comptroller and Auditor General of India said. (Reporting by Aditi Shah and Tommy Wilkes; Editing by Malini Menon)

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