India’s federal government is committed to saving ailing national carrier Air India and clearing the airline’s huge debt, a senior civil aviation ministry official says. Air India has about 400 billion rupees ($9.07 billion) of debt, including 180 billion rupees in working capital loans taken from a consortium of banks and 220 billion rupees borrowed to acquire new aircraft. “The government is committed to Air India. We are bound by that commitment to revive Air India,” says Nasim Zaidi, ...
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