The Civil Aviation Ministry has reportedly said that the Government should invest as much as Rs. 199bn of equity in Air India Ltd. in five years to help the state-owned carrier return to profits.
Reports stated that the Government should also provide additional funds of Rs. 112bn in the five years to 2017 to help the carrier buy aircraft.
Air India said on Thursday that its board had approved issuing Rs. 75bn worth of preference shares to its lenders as part of its financial restructuring.
