The Indian Group of Ministers (GoM), headed by Finance Minister Pranab Mukherjee, has approved in principle an additional equity infusion of Rs1, 200 crore for Air India as well as a payment of Rs532 crore for operating VVIP and rescue flights.
Civil Aviation Minister Vayalar Ravi confirmed that the GoM will meet again next week to discuss other finance issues. The GoM has asked the finance committee to prepare a note on Air India’s turnaround plan ahead of the meeting.