New Delhi, August 10: The Civil Aviation Ministry is awaiting guidelines from the Reserve Bank on a debt restructuring package for the aviation sector, as it will help the ailing airlines bridge mounting losses.
“The RBI has to come up with guidelines for the restructuring of debt of the aviation sector. As far as my ministry is concerned, we support it… I believe that the RBI is actively looking into the issue,” Civil Aviation Minister Praful Patel told reporters here.
Major carriers like Air India and Jet Airways have plans to restructure their debt and have been in talks with banks to get soft loans instead of high-interest ones.
“In the case of Air India, it (debt restructuring) is very much active on the government’s agenda,” Patel said.
–Agencies