NEW DELHI: State-run Air India hopes to meet its fund requirements by raising loans against the government guarantee for Rs 2,500 crore and run its business smoothly till the sale process concludes. "We have not decided on further loans from banks. We have the Government of India (GoI) guarantee for Rs 2,500 crore and if needed, we may raise some loans," said a top Air India official wishing not to be named.The airline has been put on the block by the government as part of its disinvestment target in FY20. We are repairing the grounded aircraft and putting them back into operations. The prospective buyers stayed away from the bidding finding some of the terms unfavourable.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 Rs 30,000 crore bail-out package cleared by the UPA-II government.

Source: Economic Times October 09, 2019 13:52 UTC