Air India is likely to receive the first tranche of equity infusion by December, Civil Aviation Minister Praful Patel said today.
“We will see the first tranche of equity infusion into Air India coming in by December,” Patel told reporters on the sidelines of a function. The national air carrier was initially looking at around Rs 800 crore for the first two months, Patel added.
“We have decided to put more money, but will review the progress (of cost-saving measures taken by the airline) every month,” he said.
On the issue of relaxing the foreign direct investment (FDI) norms in the aviation sector, Patel said a decision would be taken after assessing what the industry needs. “On the FDI issue, the Government will take its decision based on the needs of the sector,” he said.
