GoI to infuse equity into Air India by March 2010: Civil Aviation Minister Praful Patel

According to a Reuters report, Civil Aviation Minister Praful Patel informed yesterday that the Government of India (GoI) will infuse equity into Air India by March 2010. He said that the airline will have to generate Rs 20 billion through cost cuts and revenue gains.

Last month, Patel mentioned that GoI will back Air India with up to Rs 50 billion if the airline made the same amount through cost cuts and other measures, a proposal which was protested by unions.