Govt. approves Rs. 1200 crore equity infusion in Air Inida

New Delhi, Dec.30 (ANI): The Cabinet Committee on Economic Affairs on Thursday approved the infusion of Rs.1200 crore as equity to Air India and directed its management to work towards the rationalisation of wage structure.

The Ministry of Civil Aviation release said: "The infusion of enhanced equity fund would give much needed impetus to the Air India for its revival plan. It is further stated here that Government had earlier released Rs.800 crore in February, 2010 as equity induction in the National Aviation Company of India Limited (NACIL), now Air India Limited for its revival plan." (ANI)