New Delhi, Sep 16: Civil Aviation Minister, Praful Patel said that the government will consider the the issue of infusing equity into ailing Air India shortly.
Speaking on the sidelines of an aviation symposium, Patel said, "The Government is committed to equity infusion (in Air India) for which we are moving the Cabinet very shortly."
He also said, "The government is also committed to reduce the high cost debt (of Air India) to low cost debt with the assistance from banks."
Air India is currently overburdened with a debt of Rs 16,000 crore on an equity base of Rs 145 crore. It has been demanding a bailout package from the government, consisting of equity infusion and a soft loan.