Air India seeks govt nod for ₹2,400 crore loan from NSSF
New India: Disinvestment-bound Air India has sought the government’s approval to borrow ₹2,400 crore from National Small Savings Fund (NSSF), a pool of small savings from households, to meet its working capital requirements.
The airline, which has seen its total debt ballooning to ₹58,000 crore, made the request at a meeting on 14 May of all the top bosses of agencies working under the Civil Aviation Ministry. The meeting was chaired by Civil Aviation Secretary Pradeep Singh Kharola.
The Aviation Secretary is, however, learnt to have advised Air India to discuss its financial issues separately.
‘This is fresh requirement beyond what had been approved earlier,’ said a senior Air India official.
