Air India may soon get a fresh lease of life. The aviation ministry has begun work on preparing a cabinet note on the airline's restructuring and banks have agreed to broad terms of the restructuring package, reports CNBC-TV18's Mehak Kasbekar quoting sources.
It is learnt that a thumbs up has been given to the restructuring plan, in the meeting attended by SBI, Air India and aviation ministry officials. The consortium of banks has broadly approved the rejig plan. The Air India board will pass this resolution next week and thereafter the aviation ministry will prepare a cabinet note in a few days.
Sources say that the consortium of banks pointed out to some of the requirements like fuel-monitoring body and hiving off the special business units (SBUs) among others. The Air India board will also decide on the number of Boeing aircrafts. Also watch the accompanying video.
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