Air India
Air India

Mumbai: Facing acute financial crunch, Air India has sought Rs 2,400 crore guarantee from the government to raise fresh funds to mainly meet its operational requirements, according to airline officials.

One of the officials said there is a delay in payment of salaries for the month of November and is expected to be paid on Thursday.

The government is in the process of finalising the contours for divestment of debt-laden Air India.

The officials said the airline has asked for Rs 2,400 crore sovereign guarantee in order to raise money to mainly meet its operational requirements. They said the amount of Rs 2,400 crore is part of the Rs 7,600 crore guarantee that was to be provided to the airline in the current fiscal.

An Air India spokesperson did not offer any comment on the issue.

On November 27, Minister of State for Civil Aviation Hardeep Singh Puri told the Rajya Sabha that interests of Air India employees would be protected and there would be no job loss till its privatisation.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in