The Finance Minister Mr. Pranab Mukherjee today reviewed the turnaround plan of the national carrier, including the steps it was taking to cut costs and improve savings. Official sources said Mr. Mukherjee was briefed on the issue by the Civil Aviation Secretary Mr. Madhavan Nambiar and the Air India CMD Mr. Arvind Jadhav in New Delhi. The Finance Minister is understood to have made it clear that any government assistance to the national carrier is possible only after it reduces flab and costs. The meeting came as the Civil Aviation Ministry started work on preparing a note for the Union Cabinet on a package for Air India, including infusion of additional equity and a soft loan to overcome its present crisis. Air India seeking a 5,000-crore rupees bailout package from the government.
News On AIR | September 21, 2009 6:57 PM
Govt reviews Air India's turnaround plan