Ministry to Seek Cabinet Approval to Infuse Equity in Air India

By NIKHIL GULATI

NEW DELHI -- India's aviation ministry will shortly seek the federal Cabinet's approval to infuse fresh equity capital in state-run carrier Air India, Civil Aviation Minister Praful Patel said Wednesday.

"We are working (also) on replacing Air India's high-cost debt with a low-cost one," Mr. Patel said at an industry event.

Air India is taking a series of cost-cutting measures which will soon start showing positive results and help in curtailing losses, he said. Link...