KKR will invest Rs 11,367 crore into Jio Platforms
The airline’s operations have hit a snag due to financial problems and rising dues
Air India had requested an equity infusion of Rs 4,277 crore in the current financial year (2015-16) but the government has only provided an amount of Rs 2,500 crore in the Budget.
Nandan took over as chief of the carrier in August 2011, in a financial year when its losses had widened to Rs 7,559 crore, and was given a three-year term.
In the past three years, government has infused a total of Rs 12,200 crore into the national carrier but "there has been a shortfall in equity infusion to the tune of Rs 3,574 crore, leading to a liquidity crunch", Civil Aviation Minister Ajit Singh said.
The government today deferred a decision on proposal to revive sick public sector unit, Scooters India Ltd (SIL). "The Cabinet has deferred the proposal," a source said.
Amidst mounting concerns that many promoters who have got their loans restructured are misusing the CDR mechanism, bankers today called for higher equity infusion, to the tune of one-fourth of the CDR demand.
India will infuse Rs 30,000 crore in state-run carrier Air India by 2020, Civil Aviation Minister Ajit Singh told reporters on Thursday.
The cabinet on Wednesday approved a financial restructuring plan for national carrier Air India, which includes equity infusion by the government and restructuring of USD 4 billion in debt.
The final meet to seal fate of SBI equity infusion is soon to take place with the finance secretaries to mull options tomorrow, reports CNBC-TV18's Aakansha Sethi.
In a much-needed succour to the troubled micro-finance space, West Bengal-based micro lender Bandhan today said it has got a Rs 135-crore equity infusion from the investment unit of the World Bank.
The finance ministry is driving a tough bargain for equity infusion into Air India. The aviation minister met with the finance minister and has asked for over Rs 2,000 crore in support for Air India in the budget. CNBC-TV18’s Mehek Kasbekar shares more details on what does Air India have to do now.