The Group of Ministers (GoM) on Civil Aviation has decided upon the financial package for the Air India. The GoM is exploring all possible solutions for bringing Air India in good financial health.
The above information was given by the Minister of Civil Aviation, Shri Praful Patel in written reply to a question in Rajya Sabha today.
The Minister also informed the House that NACIL has taken initiatives to turnaround the performance of the company and is mainly focused on Cost Reduction (Target of Rs.1500 crores) and Revenue Enhancement (Target of Rs.1200 crores.)
The turnaround plan presented to the Committee of Secretaries on 29th August, 2009 has been broadly divided into 0-9 months, 9-18 months & 18-36 months. These are broadly segregated under Operational efficiency, Product Improvement, Organization Building & Financial Restructuring.
Financial restructuring of Air India
