Plan To Revive Air India Going Through Government Approval: Jayant Sinha

Cash-strapped Air India has also invited bids from banks for a Rs 500-crore government guarantee-backed short term loans.

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Plan To Revive Air India Going Through Government Approval: Jayant Sinha

Air India is staying afloat on a bailout package extended by the government in 2012.

New Delhi: 

The revival plan for debt-laden national carrier Air India is going through the government's approval process, an official said on Thursday.

Minister of State for Civil Aviation Jayant Sinha told reporters the same on the sidelines of an event in New Delhi. 

Earlier, the government had invited Expression of Interest (EoI) on March 28 this year for disinvestment of Air India, including the national carrier's share-holding interest in the Air India Express Ltd and Air India SATS. But it received no response till May 31, the closing day.

Currently, the airline is in a cash-strapped stage. It has also invited bids from banks for a Rs 500-crore government guarantee-backed "short term loans

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