Despite its financial difficulties, Air India Chairman Rohit Nandan has indicated that the carrier is exploring the possibility of adding more aircraft to its fleet.
"The committee will look into the markets and whether we should move at the same pace or whether we should be conservative," Mr. Nandan said. "It's a very dynamic market. So, you will have to look at it every month and you will have to place any order at least one year in advance."
The committee will decide on any fresh aircraft orders only after it is convinced that the move would be profitable for the airline, he added.
China Eastern Airlines issues new shares
China Eastern Airlines has issued 2.29 billion yuan ($362 million) of new A shares and HK$1.62 billion ($209 million) of new H shares.
China Eastern Air Holding Co and CES Finance Holding Co will buy the A shares, which can generally be bought only by mainland residents, with China Eastern Airlines.
Following the deal China Eastern Air Holding will hold 43.63% of the enlarged total share of the company's capital.
Air India mulls fleet expansion
