Cabinet Approves Air India Restructuring - Sky Today
India’s cabinet has approved a financial restructuring plan for national carrier Air India, which includes equity infusion by the government and restructuring of USD$4 billion in debt.
India’s flagship-carrier has been hit by high fuel costs and fierce competition that has beset the country’s aviation industry, in which only one of six airlines is currently profitable.
However the Cabinet has delayed a decision on foreign direct investment in Indian airlines.
(Reuters)
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