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Another New Air India Plan

Air India owes around Rs.2,000 crore to oil retailers, and faces accumulated losses worth Rs.22,000 crore but is looking at a financial overhaul. Lenders including State Bank of India and 18 other banks will be repaid Rs.10,500 crore in 10-15 years, or through government-guaranteed bonds. The restructured debt is only one part of the improvement; the airline is also being given time to improve operational efficiency. Operational efficiency is expected to rise from 71 percent to 90 percent within two years.

Twenty seven Dreamliners will be inducted into the Air India fleet and 7,000 Air India staff will be transferred to its maintenance, repair and overhaul divisions. 12,000 staff be transferred to transportation services.

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