Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that Government has approved the Turn Around Plan (TAP) and Financial Restructuring Plan (FRP) of Air India under which there would be equity investment in Air India spread over 10 years. The equity would be brought in by Government against achievement of specific milestones in terms of load factors, yield and on punctuality. The performance of Air India would therefore considerably improve with the operational Turnaround. As a result of these measures, Air India is likely to emerge EBITDA positive in 2013. From 2009-10 to till date the Government has infused equity to the extent of Rs.10,000 crores.
Tags: Air India, Asia, Civil Aviation, Earnings before interest taxes depreciation and amortization, Etihad Airways, Government, India, Rajya Sabha