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Govt To Infuse More Equity To Revive Air India

New Delhi, Jul 14: As part of its commitment to revive Air India, the Government would soon infuse additional equity and clear its dues for operating VVIP and evacuation flights, a top official said today.“The
govt to infuse more equity to revive air india -...
PTI 14 Jul 2011, 21:56:50 PM IST

New Delhi, Jul 14: As part of its commitment to revive Air India, the Government would soon infuse additional equity and clear its dues for operating VVIP and evacuation flights, a top official said today.

“The Government is fully committed to strengthening Air India. Several initiatives are under way - ranging from equity support and (clearance of) various dues government has to pay to it,” Civil Aviation Secretary Nasim Zaidi said here.

These initiatives “are being coordinated at a very high level. Government is very committed to supporting Air India and the problem will be sorted out in a time-bound manner,” he said in response to questions.

A Group of Ministers (GoM) to turnaround the national carrier, headed by Finance Minister Pranab Mukherjee, is likely to meet early next week on the issue.

Addressing a function to mark the launch of an international aviation conference and exhibition slated in Hyderabad next year, Zaidi said India and the US would soon sign a major aviation safety agreement that would open up a huge global market for export of aeronautical products produced here and open up huge potential for investment.

The Bilateral Aviation Safety Agreement (BASA), approved by the Union Cabinet, would be signed during the upcoming visit of US Secretary of State Hillary Clinton, he said.

Delving on the recent initiatives taken by the Ministry, Zaidi said government was considering restructuring the Directorate General of Civil Aviation (DGCA) into a Civil Aviation Authority. PTI

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