Air India has estimated losses of 69.94 billion rupees in this year, till March 2011.
New Delhi: The cabinet approved on Thursday an equity infusion of 5 billion rupees ($112 million) into ailing state-run carrier Air India, a senior government source said, giving a fresh lease of life to the airline which has not posted a profit since 2007.
Air India has estimated losses of 69.94 billion rupees in the year to March 2011, and is in talks with banks to restructure $4 billion of working capital debt.
It is in the midst of implementing a turnaround plan which would focus on a hub-and-spoke route model, cut costs by redeploying staff and unload non-core real estate.
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