February 3, 2010 8:27 PM

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Govt. likely to grant additional Rs 800 crore to cash-strapped Air India

The government is likely to approve an additional equity infusion of Rs. 800 crore into the cash-strapped Air India next week. Civil Aviation Minister Mr Praful Patel said these are testing times for the aviation industry both internationally and domestically and extraordinary measures need to be taken.The minister spoke to reporters after a meeting of the Group of Ministers formed on the revival of Air India. The decision on additional grant would also be taken keeping in view the high cost debt both current and long term taken by Air India.AIR correspondent reports the government had earlier decided to grant the ailing airline Rs. 800 crore this fiscal as equity.

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