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Air India To Get Rs. 2,100 Crore From Government: Report | Read

PUBLISHED ON: September 4, 2018 | Duration: 0 min, 30 sec

  
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National carrier Air India will get Rs. 2,100 crore from the government in the form of guaranteed borrowing, news agency ANI cited Civil Aviation Secretary RN Chaubey as saying on Tuesday. A guaranteed loan is a secured loan in which a party other than the borrower is responsible in case the borrower defaults. State-run Air India has accumulated losses to the tune of Rs. 46,805 crore. The government had in June this year shelved a plan to sell its 76 per cent stake in the debt-laden airline after it failed to attract interest from bidders. The carrier has been kept afloat for years using taxpayer funds.
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