New Delhi: State-run Air India hopes to meet its fund requirements by raising loans against the government guarantee for ₹2,500 crore and run its business smoothly till the sale process concludes. We have the Government of India (GoI) guarantee for ₹2,500 crore and if needed, we may raise some loans," said a top Air India official wishing not to be named. In the wake of the stake sale, fleet expansion is also on hold. After failing to find a bidder in its previous term, the Modi 2.0 government is working this time on war-footing to sell Air India to a private player. Air India is currently surviving on a ₹30,000 crore bail-out package cleared by the UPA-II government.

Source: Mint October 09, 2019 13:52 UTC