Air India to get government bail-out

"The Indian government has agreed to bail out national carrier Air India, which posted an $800 million loss for the year ended 31 March and appealed to the state to save it from going under.

The amount that will be disbursed has not been confirmed and will depend on how the state-owned airline plans to restructure its business to stem future losses, says a spokeswoman for Indian civil aviation minister Praful Patel. Air India has said that it wants $820 million in the form of equity and soft loans from the government." Next.