India seeks parliament nod to inject $330 million in Air India: Bloomberg

(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)