Bleeding Air India prepares blueprint for turnaround
Published on Thu, Jul 16, 2009 at 19:47 | Source : CNBC-TV18
Updated at Fri, Feb 19, 2010 at 09:57
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Bleeding Air India prepares blueprint for turnaround
Troubled national carrier Air India is finalising a six-month turnaraound plan, which will be submitted to the government soon, The carrier is looking at generating additional money up to Rs 3,000 crore via two routes: Rs 1,800 crore via revenues and Rs 1,200 crore via cost cutting.
Troubled national carrier Air India is finalising a six-month turnaraound plan, which will be submitted to the government soon, CNBC-TV18's Swati Khandelwal elaborates on the details of the plan.
Below is the transcript of Swati Khandelwal's report on CNBC-TV18. Also watch the video.
Air India has been working on the plan for quite sometime and is expected to submit it to the government in 10 days.
The carrier is looking at generating additional money up to Rs 3,000 crore via two routes: Rs 1,800 crore via revenues and Rs 1,200 crore via cost cutting. Air India is also seeking loans from the government to the tune of Rs 3,000 crore over the next six months,
Air India, which currently incurs losses of up to Rs 250 crore every month, expects to break even in the next six months.
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