Rs.18,000-crore Air India restructuring plan approved
The long-awaited Rs.18,000 crore financial restructuring plan for cash-strapped Air India has finally been approved by a consortium of 19 banks led by State Bank of India, an official said here Tuesday.
The plan includes a debt restructuring of Rs.18,000 crore by the banks and a committed equity infusion by the government, the official said in a statement here.
The high-cost working capital debt of the national carrier stands at Rs.22,000 crore, of which the banks will restructure Rs.18,000 crore.