 "air india express")
India's flag carrier, Air India averted a default and secured short-term funds to service Rs 700 crore worth non-convertible debentures (NCDs) due for redemption on Thursday, source told news agency PTI.
The debt-laden national carrier's operations and revenue flow have been hit by coronavirus outbreak, which has also resulted in suspension of domestic and international flights.
On March 23, India Ratings warned that Air India may default on the debt payment, given the poor cash flow position after the announcement of the country-wide lockdown along with the national airspace, till April 14th. Accordingly, the agency had on the same evening placed the
