Wrong flight path: Govt's latest proposals for Air India won't help at all

With jet fuel prices starting to move north, a recovery by Air India looks all the more improbable

The government is reportedly evaluating a proposal to induct banks as strategic investors in the loss-making Air India. This will require a consortium of 19 banks, led by State Bank of India, to convert its working capital debt of Rs 28,000 crore into equity. Subsequently, the airline could be listed on the stock market, though there is no proposal to privatise it. The revival plan also includes hiring professionals with a proven track record of running an airline. This is yet another plan in the works to breathe new life into Air India. In 2012, the government had approved pumping