(a) whether Air India has a huge amount of debt to pay;
(b) if so, the details thereof; and
(c) the steps taken by the Government to help Air India to come out of this burden?
(a) whether Air India has a huge amount of debt to pay;
(b) if so, the details thereof; and
(c) the steps taken by the Government to help Air India to come out of this burden?
MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF CIVIL AVIATION (SHRI PRAFUL PATEL)
(a) and (b): NACIL and its subsidiary company, Air India Charters Limited, has an outstanding
loan of US$3856.245 million and Rs.6475.695 crores to finance acquisition of its aircrafts and
spare engines for replacement of its ageing fleet and to cater to expansion plans. In addition
to above, Air India has also resorted to working capital borrowings of Rs.17,956.75 crores.
(c): In view of the deteriorating financial position of NACIL, the turnaround Plan of NACIL
is being monitored by Government. Government has released an amount of Rs.800 crores in two
tranches of Rs.400 crores each in February and March, 2010 in the form of equity. A provision
has also been made in the Budget 2010-11 towards equity infusion of Rs.1200 crores in NACIL
subject to meeting the specified Trigger points set for the airline by the Group of Ministers.