Latest Aviation News Air transport EMBATTLED AIR INDIA SEEKS 'URGENT' LOAN

Embattled Air India seeks 'urgent' loan

AFP
08/06/2018 | 320 words
Air India has announced it is seeking an urgent multi-million-dollar loan to maintain day-to-day operations, highlighting the wretched financial predicament of the country's debt-stricken national carrier.In a statement posted on its website this week the airline said it was looking for a short-term loan of 10 billion rupees ($148 million) "to meet urgent working capital requirements".Air India has failed to pay staff their salaries on time for the past three months, according to multiple news reports. The plea for funds, made on Tuesday but only picked up by media (...)
 
 
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