Shri Ajit Singh, the Minister of Civil Aviation informed Rajya Sabha today in a written reply that the Annual Plan outlay for 2012-13 of Air India Ltd is Rs 4928.00 crores including a budgetary support provision of Rs 4000.00 crores. Plan expenditure to the tune of Rs 928.00 crores will be met by the company from its own Internal and Extra Budgetary Resources (I&EBR).
The Minister further informed in his reply that the amount of Rs 4000.00 crore would be released to Air India as equity as per the Financial Restructuring Plan (FRP) of Air India approved by the Government. The release of equity would be linked with achievement of milestones such as increase in on time performance, passenger load factor, yield, asset monetization, hiving off the Maintenance, Repair, Overhaul (MRO) and ground handling activities etc.
The Minister further informed in his reply that the amount of Rs 4000.00 crore would be released to Air India as equity as per the Financial Restructuring Plan (FRP) of Air India approved by the Government. The release of equity would be linked with achievement of milestones such as increase in on time performance, passenger load factor, yield, asset monetization, hiving off the Maintenance, Repair, Overhaul (MRO) and ground handling activities etc.
