[New Delhi] New Civil Aviation Secretary Took Stock of the Situation in Air India’s Turnaround Plans
Civil Aviation Secretary Rajeev Nayan Choubey today took stock of the situation in national carrier Air India, a day after he took charge with the ministry.
At a meeting today, the top management of Air India made a presentation to Choubey on the national carrier’s turnaround plans,
The then UPA government had in 2012 approved a turnaround plan under which Air India was to avail a total of Rs 30,000 crore over a period of 10 years. However, the NDA government last week appointed SBI Capital Markets to revisit the plan.
“The ministry feels that the situation in the aviation industry has undergone a sea change since 2012 when Air India’s TAP was put in place for 10 years and this requires that the plan be revisited,”
SBI Cap has been asked to submit its report in three months.
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