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India to infuse $370 mln into Air India

Source : REUTERS
Last Updated: Sat, Dec 08, 2012 18:50 hrs

NEW DELHI, Dec 7 (Reuters) - India will infuse 20 billion rupees ($370 million) in equity into ailing state-run carrier Air India as part of a turnaround and financial restructuring plan, a government statement said on Friday.

Last year, the government approved a $5.8 billion bailout plan for the national carrier. The latest equity infusion is part of that plan. ($1 = 54.0950 rupees) (Reporting by Manoj Kumar; Editing by Anand Basu)

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