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LIC's rescue of Air India may hit banks hard

If only Air India paid its fuel bills on time, there wouldn't be any need of a discounted LIC loan

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Air India

Sai Manish  |  New Delhi 

Reports suggest that the Life Insurance Corporation of India (LIC) is planning to take over a portion of the Rs 50, 000 crore debt of Air India and convert it into low interest loans. This according to reports is being done to reduce the interest burden on AI’s debt pile and make it profitable in the next decade.

LIC’s plan to convert Air India’s 10% interest loans to 7% loans would come as a breather for India’s national airline which has been battling losses and mismanagement. But a closer look at the financial information of Air India reveals that ...

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First Published: Sun, October 23 2016. 13:27 IST
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