Govt of India to resume equity infusion into AI

Wednesday 13th June 2018 05:55 EDT

Unpaid employees of Air India are all set to receive their April salaries. The government said it would resume equity infusion into the airline, which was stopped after it was decided to sell it off and, it will give guarantee for a £100 million loan to the Maharaja that banks had revoked after the divestment bid was announced last year. An aviation ministry official said, “Employees will be paid their salaries as the fund flow of government through equity infusion will begin and the loan guarantee will be given.”

About the failed divestment bid, he said, “We are examining the failure and are in touch with the transaction advisor. If the government decides to go ahead with AI divestment by revising the original terms, then that process may still happen in its remaining term. But that is the government's call now.”

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