Praful Patel to meet PM on Air India crisis

New Delhi, July 21

Civil Aviation Minister Praful Patel said here Tuesday that he would meet Prime Minister Manmohan Singh this week to discuss the appointment of independent directors to the board of Air India in a bid to revive the ailing national carrier.

"I will be discussing names of eminent people who can give time and make a turnaround of Air India with the Prime Minister Manmohan Singh this week," Patel told reporters.

The minister added that SBI Caps was working out a revival programme for the cash-strapped airline.

"There is too much of talk of Air India asking for funds. We are not looking for money. We are keen on equity infusion. There will be a strong turnaround of Air India," Patel said, adding that "there are systemic problems".

National Aviation Company of India Ltd, which operates Air India, had submitted a proposal last October for equity infusion of Rs.1,231 crore and for a soft loan of Rs.2,750 crore with an interest of around five percent, which it could pay over 15 years.

Last updated on Jul 21^st, 2009 at 11:39 am IST--IANS

Possibly related news:

Other News Headlines

Haryana power utility recovers Rs.59 crore from defaulters

Chandigarh, March 14

The Dakshin Haryana Bijli Vitran Nigam (DHBVN), a state-government power utility agency, has recovered arrears of Rs.59 crore in just 10 days from 7,300 defaulting consumers in its area in south Haryana.

Haryana to invest over Rs.1,200 crore in industrial land

Chandigarh, March 14

The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) proposes to invest over Rs.1,200 crore on land acquisition and development of industrial infrastructure during the next financial year of 2010-11, officials said here Sunday.

Project to check heart disease in corporates launched

Hyderabad, March 14

A cardiovascular disease (CVD) prevention project expected to benefit 50,000 members from 100 corporate organisations was Sunday launched in Andhra Pradesh.

Secunderabad-Nizamuddin Duronto Express flagged off

Hyderabad, March 14

The non-stop bi-weekly Duronto Express from Secunderabad to Hazrat Nizamuddin (Delhi) became operational Sunday.

ONGC joint venture planning IPO in 2012

Dahej (Gujarat), March 14

ONGC Petro-additions Ltd (OPaL), a joint venture promoted by Oil and Natural Gas Commission (ONGC), Gas Authority of India Ltd (GAIL) and Gujarat State Petroleum Corporation (GSPC), is slated to hit the capital market in 2012 with an initial public offering (IPO) for the Rs.12,440-crore mega petrochemical complex coming up here.

Enter Your Name and Email below and Post your comment
Name	Email:
Comment:

Please login to use this service
Usermame :
Password :
Quick signup \| Forgot Password