Govt to finalise Air India revival package in 10-15 days, says Choubey
The government is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, a senior official said Thursday.
The government is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, a senior official said Thursday. Earlier this year, efforts for strategic disinvestment of the airline failed to take off. The national carrier is estimated to have a debt burden of more than Rs 50,000 crore.
Civil Aviation Secretary R N Choubey said the government is likely to finalise Air India revival package in 10-15 days. The difficult situation in the airline sector is mainly on account of high crude prices and depreciation of the rupee, he told reporters after his meeting with Economic Affairs Secretary S C Garg.
The government has been looking at ways, including sale of non-core assets, to bolster the carrier's fortunes. Air India is staying afloat on a bailout package extended by the previous UPA regime in 2012.
Watch This Zee Business Video:
Earlier in the day, Choubey said the impact of increase in fuel prices and fall in the rupee have not significantly impacted air fares. "There is good competition in the market and airlines are absorbing the increased costs. Now, how long can they absorb and when will they increase their ticket prices, that is a commercial decision," he added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Liquor stock under Rs 300: Can this smallcap scrip double your money in 1-2 years? Check targets by Anil Singhvi
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
09:54 AM IST