(Reuters) - The government has sought parliament's approval for an equity infusion of 23 billion rupees ($328.42 million) in state-owned carrier Air India, Bloomberg reported https://bloom.bg/2EEpe3J on Thursday.
Air India had sought 21.21 billion rupees of additional equity from the government for the fiscal year 2018-19 to make pending payments to its vendors, a source at the airline had told Reuters in July.
India's top civil aviation bureaucrat said in September that a $120 million capital injection for Air India was on the way, and the government is also working on a relief package for the airline industry.
($1 = 70.0325 Indian rupees)
(Reporting by Chandini Monnappa in Bengaluru; Editing by Sunil Nair)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app