Air India Bailout Package of Rs 2100 Crores Sanctioned By Indian Government

New Delhi: To bail out Air India, the Ministry of Civil Aviation will give a bank guaranteed loan of 2100 crore. RN Chaube, secretary of the Civil Aviation Ministry, has confirmed. The Civil Aviation Ministry had discussed with the Finance Ministry to lift the loss to the government aviation company Air India. In this discussion, the demand for a bailout package of 11000 thousand crores was sought, but it was rejected.
Air India is continuously in the deficit after being implemented. According to audit data, the total loss on Air India in fiscal year 2016-17 was Rs 47,145.62 crore. Although the strategic disinvestment was tried by the government in May, which was unsuccessful.
In the past, Air India was in the limelight for not getting salaries for pilots and other employees. After which the pilots had warned that if their allowances were not paid, they would stop the flight operations. After this, the government paid the arrears of pilots at the end of August.
A few days before Air India, Aviation Minister Suresh Prabhu had said that this problem has been inherited with Air India. Nobody can deal with its debt.