New Delhi, October 25: Air India is seeking an additional equity of Rs 5,000 crore from the government as it promises to squeeze its fleet size and reduce the wage bill of its 31,000-strong workforce.
The national carrier has suggested that the government should inject Rs 5,000 crore of equity over a period of three years from this fiscal, besides providing guarantee for low- cost working capital loans from banks, official sources said here.
The airline, which is starved of cash, has sought Rs 2,400 crore by the end of March next year, they said, adding that the carrier would need Rs 3,000 crore every three years to meet its expenditure obligations.
–PTI