Air India to ask Rs 10 ooo crore from Government

The struggling national carrier, AirIndia will ask equity support of around Rs 10,000 crore from Government to tide over its financial crisis. The Civil Aviation Minister Vayalar Ravi has pointed out the same today.

The national carrier has been struggling for last couple of years due to high debt and interest charges. It has been running on losses for some months and finding it very difficult to continue with its operation. It has also been defaulted to pay the salary to its employees on time couple of times. Now it desperately needs government help to stay in the business.