The disinvestment plan of Air India was stalled, due to lack of interest shown by bidders.
Mumbai: The debt-ridden national carrier Air India on Monday has recieved Rs 2,100 crore from the government as guaranteed borrowing, said the Civil Aviation Ministry.
R N Choubey, Secretary, Ministry of Civil Aviation, was qouted saying, "Air India gets Rs 2,100 crore government guaranteed borrowing", as per reports from ANI.
Earlier, the disinvestment plan of Air India was stalled, due to no interest shown by any bidder. The carrier's debt burden was more than Rs 48,000 crore at the end of March 2017. So far, the airline has received more than Rs 27,000 crore worth equity infusion.
Civil Aviation Secretary R N Choubey had said that the government had expectation of better participation for the stake sale plan of the debt-ridden airline. He also said that the government is re-thinking on the strategy of stake sale. In the current fiscal, Air India has recieved an equity infusion of Rs 650 crore.
(With Inputs from Agencies)