- Wealth PMS (50L+)
RBI agrees to restructuring proposal by Air India:
Air India Ltd has won the central bank’s approval for a debt recast plan crucial to the state-run carrier receiving desperately needed government funds over the next 10 years. The Reserve Bank of India (RBI) has, however, approved some of the loss-making carrier’s proposals while rejecting others, according to two senior executives of the airline.
The worst is this:
Air India is seeking total equity support of Rs. 42,920 crore till fiscal 2021. It also wants government guarantees for aircraft loans worth Rs. 30,584 crore till fiscal 2021.
Your. Tax. Money. Down. The. Drain.