Live Markets »News & Advice»Market News»Market News Details
Market News Details

Govt may finalise revival package for ailing Air India in a month: Official

Press Trust of India/Hyderabad 10 Oct 18 | 04:20 PM

The Centre is likely to finalise a revival package for the ailing Air India in a month, a top official of the Civil Aviation Ministry said Tuesday assuring "need-based" support to the debt-laden carrier.

Civil Aviation Secretary, RN Choubey also said the safety audit that the Director General of Civil Aviation ordered on domestic airlines "did not find any backlog of any safety steps that they should have taken."

Related Stories

    No Related Stories Found
Widgets Magazine

"Whenever there is a need for financial support to Air India, it will be examined on need basis and such financial support on need basis will be provided. I only wish to tell you that all support will be provided.

Air India's competitiveness and efficiency will not be compromised. We have nearly finalised the package and there will not be any problem for Air India. Within this month yes. Certainly," Choubey told reporters here.

ALSO READ: Suresh Prabhu reviews road map of debt-laden Air India with chief Kharola

He was responding to a query about the revival package for Air India.

He said the disinvestment of Air India may be possible only after the macroeconomic conditions and market conditions are favourable and expected that the airlines would improve its efficiency and operational capabilities.

The official further said the rising fuel prices and sliding Rupee against Dollar, impacted the profitability of the industry during the past two quarters and the ministry was also working separately on various measures to support the airlines sector in general.

ALSO READ: Air India awaits Rs 5-bn loan, extends deadline for submission of bids

"The intention is to bring down the cost. You must appreciate that the cost of operations has gone up because the rental has gone up on account of devaluation of Rupee and fuel prices have also led to the cost increase in operations.

So our intention is to bring down the cost. Thats what we are wanting to provide," he said.

On the crisis-hit Jet Airways, he said the carrier has not approached the government for any support and it (government) "is monitoring the situation.

Widgets Magazine


Company Price Gain (%)
Yes Bank114.5510.94
Sun Pharma.Inds.390.604.01
IndusInd Bank1,435.503.80
Larsen & Toubro1,556.153.36
ICICI Bank433.353.20


Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine