Premium
This is an archive article published on December 8, 1999

Govt to injectRs 325 cr in IA

NEW DELHI, DEC 7: The goverment will release Rs 325 crore as equity injection into Indian Airlines (IA) in phases and in the form of margi...

.

NEW DELHI, DEC 7: The goverment will release Rs 325 crore as equity injection into Indian Airlines (IA) in phases and in the form of margin money for acquisition of aircraft, Rajya Sabha was told today.

IA will be permitted to mobilise funds from the capital market through initial public offering (IPO) and/or any other modalities available for restructuring, civil aviation minister Sharad Yadav said in a written reply.

In reply to another question on alleged corruption in Air India (AI), he said some complaints regarding the working of AI’s commercial wing was under examination of the government. After huge losses, both airlines have now started posting marginal profits for the current fiscal.

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement