Here is a verbatim transcript of Praful Patel addressing media persons. Also watch the accompanying video.

The honorable Prime Minister has been very kind to give us a patient hearing. He has also assured that Air India, which he described, is the pride of our country, our national carrier, should be given the fullest support. He said commitment of the government will stand behind Air India.

While doing this, of course, Air India will have to do a lot of restructuring from within, both organisationally, manpower-wise as well as financially. Until and unless a series of measures are taken to improve the functioning and the financial viability of the airline, it will be difficult for the government to keep continuing its support unconditionally. While on the one hand the government is fully committed to Air India to tide over the present crisis, it also expects that each and every individual working for the airline shall put his or her commitment to make Air India a success story which it was.

In the interim of course, the government will make sure that any financial crisis will be tided over but expects a full restructuring plan to be submitted to it at the earliest. A group headed by the Cabinet Secretary, Principle Secretary to the Prime Minister and the Finance Secretary and of course the Civil Aviation Secretary will meet every month to review the steps taken and the milestone achieved. Air India will have to go in for a massive cost reduction at every level and will have to do everything possible to increase its revenues in the short-term as well as the long-term.