• Thursday, June 30, 2022

Business

Air India looks to $148m loan to survive

By: Eastern Eye Staff

AIR INDIA has announced it is seeking an urgent multi-million-dollar loan to maintain day-to-day operations, highlighting the financial predicament of the country’s debt-stricken national carrier. In a statement on its website this week, the airline said it was looking for a short-term loan of `10 billion ($148 million) “to meet urgent working capital requirements”. Air India has failed to pay staff their salaries on time for the past three months, according to news reports. The plea for funds, made last Tuesday (5) but only picked up by media late last Thursday (7), came just days after the government said it…

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