ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Syrma SGS Technology IPO: Issue filled 37% on Day 1; should you subscribe? Anil Singhvi suggests this
  • Samsung Galaxy Z Fold 4, Galaxy Z Flip 4 price in India revealed - Pre-booking, offers and specifications
  • Har Ghar Tiranga campaign: Over 30 crore National Flags sold; CAIT says business worth Rs 500 crore generated
  • Atal Bihari Vajpayee death anniversary: Remembering the poet Prime Minister of India
  • From Rakesh Jhunjhunwala's portfolio: 5 Tata Group stocks that made him ace investor
Read in App
Business News » India News

Govt to release Rs 1,500 cr to Air India next week, says official

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

The government will release Rs 1,500 crore to Air India next week as part of equity infusion under the turnaround plan, a senior official said Friday.

Parliament has approved Rs 2,345 crore equity infusion into the debt-laden national carrier under the second batch of Supplementary Demands for Grants 2018-19.

A civil aviation ministry official said the government would release Rs 1,500 crore to the airline next week. This would be out of the Rs 2,345 crore approved supplementary grant.

When asked whether the ministry has sought more funds for Air India as part of the upcoming interim Budget, the official replied in the negative.

As part of efforts to revive the financial fortunes of the national carrier, the government has decided to transfer debt worth Rs 29,000 crore to Air India Asset Holding Company, a special purpose vehicle.

The airline has debt worth around Rs 55,000 crore.

Air India is staying afloat on a bailout package extended by the previous UPA regime. The carrier is to receive up to Rs 30,231 crore from the government subject to meeting certain performance thresholds. The 10-year bailout package began from 2012.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Fri, Jan 25, 2019
09:40 pm
PTI
RELATED NEWS
11% growth possible in next decade if India does this, says RBI Deputy Governor Michael Patra 11% growth possible in next decade if India does this, says RBI Deputy Governor Michael Patra
Money Guru: As India gears up for 75th Independence Day celebration, where should you invest for benefit in New India? Expert decodes Money Guru: As India gears up for 75th Independence Day celebration, where should you invest for benefit in New India? Expert decodes
UK economy contracts in 2nd quarter as recession fear grows UK economy contracts in 2nd quarter as recession fear grows
July retail inflation softens to 6.71% from 7.01% in June July retail inflation softens to 6.71% from 7.01% in June
OPEC cuts oil demand forecasts as economic growth slows OPEC cuts oil demand forecasts as economic growth slows

LATEST NEWS

Apple iPhone 14 Pro Max color options leaked? All you need to know ahead of September launch

SpiceJet settles agreement with aircraft lessor Goshawk Aviation, affiliates

Your ITR return can get cancelled without verification – full details here

Aadhaar number compulsory for receiving government subsidies and benefits

PNG, CNG prices slashed by up to Rs 6; check new rates

What is compostable plastic? Startup offering alternative solution of Single Use Plastic gets government backing

Go Digit General Insurance IPO coming soon: Fairfax-backed firm files IPO papers with Sebi

Alvida Big Bull! Zee Business’ tribute to Rakesh Jhunjhunwala; Know what Raamdeo Agrawal, Sunil Singhania said about this ace investor

Apple iPhone 14 launch date is September 6? Check latest release update, price, specifications and more

Uber charges Noida resident Rs 3,000 from Delhi airport to home - here's what happens next

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV