New Delhi, May 19: Air India, which has been facing massive losses over the past few years, is on the path of recovery and the government would back it to see that it regains its financial strength in the next three years, Civil Aviation Minister Praful Patel said tonight.
“Air India is certainly on the path of recovery. Its losses have started coming down … the situation is improving,” the Minister told reporters after a 90-minute meeting with Finance Minister Pranab Mukherjee.
Patel said the airline was in the process of implementing a roadmap for financial, commercial and organisational restructuring whose benefits would start showing results in the next three years.
The Minister said the government has already decided to give an additional tranche of equity of Rs 1200 crore in the current fiscal, after having infused Rs 800 crore as equity in the last financial year.
–Agencies