Banks might become strategic investors in Air India
Tuesday, February 7, 2017, 12:14 PM
Government is considering a proposal to make banks strategic investors in Air India, followed by a listing of the national airline. As the first step of this plan, government will continue efforts to modify Rs 28,000 crore of working capital debt that Air India owes a consortium of 19 banks led by the SBI. The lenders are being asked to convert this into equity.