India Friday unveiled a 40 billion rupee ($800 million) bailout package for cash-strapped flag carrier Air India as part of the federal government’s budget for the fiscal year beginning April 1. Although the cash infusion will provide relief to the state-run carrier, which has been struggling with high fuel prices and a large debt load, the package is smaller than the 55 billion rupees that had been expected. Air India has failed to turn a profit since its merger with state-owned ...
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