Debt Restructuring Plan Of Air India GOVERNMENT OF INDIA MINISTRY OF CIVIL AVIATION UNSTARRED QUESTION NO-337 ANSWERED ON-15.03.2012 (a) whether it is a fact that GoM has cleared Rs.21,000 Crore debt restructuring plan for Air India; (b) if so, the details thereof; and (c) the reasons therefor? ANSWER The Minister of Civil Aviation (Shri Ajit Singh) (a),(b) and (c): The GoM in the meetings held on 28.10.2011 and 07.02.2012, accepted the recommendations of the a Group of Officers constitued by GoM to vet the Financial Restructuring Plan/Turn Around Plan (FRP/TAP) of Air India which included the conversion of Rs.11,000 crores of working capital into long-term loans, issue of non-convertible debentures of Rs.7400 crores, guaranteed by the Government. The balance of the working capital would be in the form of a Cash Credit Arrangement with the Banks. This, coupled with equity infuision by Government, is to assit the airline in regaining its cash flow by postponement of debt repayment. yschowdarymp.blogspot/2012/03/Debt-Restructuring-Plan-Of-Air-India-Sujana-Chowdary.html
Posted on: Tue, 23 Jul 2013 09:49:06 +0000
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