India's government is considering a Rs50bn ($1bn) injection of equity in tranches into loss-making Air India as part of a rescue plan to be put before cabinet, aviation minister Praful Patel said yesterday.
He told reporters that any government support would be conditional on cost-cutting measures at the state-owned airline, known as the Maharaja, as well as steps to boost revenues.
However, analysts immediately dismissed the proposed “infusion” as too little and too late given Air India's dire financial condition – it has accumulated losses of about $3bn.
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