NEW DELHI: Cash-strapped Air India has sent an urgent SOS to the government, seeking immediate sovereign guarantee for raising Rs 2,400 crore as fresh loan to somehow keep flying till outcome of the second divestment process is known. The management sent a note to aviation secretary P S Kharola, who was earlier the airline chairman, on Monday requesting urgent action on this request.
“Ever since aviation minister H S Puri made a statement in Parliament on November 27, 2019, that ‘AI will shut down if not sold off,’ everyone we owe money to has been asking for payment. We have reached a stage where it is becoming very difficult financially to continue. We need continued services/supplies as a functional airline, but people are now saying clear or reduce past dues first. We have requested the government to enable us to raise fresh loan of Rs 2,400 crore by giving us sovereign guarantee to be able to keep flying,” said people in the know. The airline is yet to pay November salary to employees.
