Air India seeks Rs 10,000 crore lifeline from SIA and Tata: Report
Air India is seeking at least Rs 10,000 crore ($1.14 billion) in financial support from owners Singapore Airlines and Tata Sons, Bloomberg News reported on Thursday, citing people familiar with the matter.
The development follows a deadly Air India crash in June that killed more than 240 passengers, plunging the carrier into its worst crisis and complicating its push to restore its reputation and modernize its fleet.
The Tata Group-owned carrier is requesting funds to overhaul Air India’s systems and services as well as developing in-house engineering and maintenance departments, the report said.
