Air India seeks about Rs 10,000 crore financial support from owners: Report
NEW DELHI: Air India is reportedly seeking Rs 10,000 crore ($1.14 billion) in financial aid from its owners Tata Sons and Singapore Airlines, as it fights multiple issues such as the deadly crash in Ahmedabad in June and airspace restrictions owing to India-Pakistan military confrontations in May.
The Air India’s request for financial help includes funding to upgrade its systems and services and to build in-house engineering and maintenance departments, according to a report from Bloomberg, citing sources.
While the Tata Group has a 74.9 per cent stake in the carrier, the remaining is held by Singapore Airlines.
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