AFTER dragging it for almost three years since the proposal was first submitted in August 2009, the turn around plan for reviving the ailing Air India has finally received the Government’s go ahead. The Cabinet Committee on Economic Affairs approved the Turn Around Plan (TAP) and Financial Restructuring Plan (FRP) for Air India on April 12 giving the Indian flag carrier a shot in the arm. The Committee of Secretaries, after reviewing the TAP, directed the Ministry of Civil Aviation to move a proposal to the Cabinet in consultation with the Ministry of Finance.It took three years for approval leaving the airline bleeding all this time.However, the Government has been infusing ad hoc funds to meet financial crisis that the airline had been facing over the period till now.
AFTER
