Bailout package for Air India: Patel

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TO RAISE UPTO RS 1200 CR THROUGH RIGHT ISSUE
EXPORTS LIKELY TO TURN POSITIVE BETWEEN JAN-MAR 2010: ANAND SHARMA
KINGFISHER TO MAKE UPFRONT PAYMENT IN 12 DAYS; REMAINING DUES WITHIN 1 YEAR
JUDGE TO ISSUE COMMON ORDER TOWARDS INTENT OF OUT OF COURT SETTLEMENT
NO IMMEDIATE PLANS TO REVISE INTEREST RATES ON HOME LOANS
ALL INDICES END IN GREEN: REALTY INDEX UP 9.6%, METAL INDEX UP 5.4%
BIGGEST ABSOLUTE POINT GAIN ON SENSEX SINCE MAY 27
SENSEX UP 507 PTS TO 15,912; NIFTY GAINS 147 PTS TO 4,711 AT CLOSE
INDIA'S TOTAL TELEPHONE SUBSCRIBER BASE REACHES 509 MILLION
GOVT HAS NO PLANS TO EASE FOREIGN INVESTMENT RULES
RISING OPERATOR BASE DRIVE DUAL SIM SALES; PRODUCT MIX TO KEEP MARGINS UP
RIL TO BUY CAIRN CRUDE AT SAME PRICE AS PSU REFINERS: NW
RIL'S JAMNAGAR REFINERIES MAY GET CAIRN CRUDE BY NOV 20: NW
RIL MAY BUY 1.4 MN BARRELS OF CRUDE FROM CAIRN RAJASTHAN THIS FISCAL: NW
LOOKS AT ALTERNATIVE SITE IN INDIA FOR ITS PLANT
NO UPDATE ON CO'S INDIA PLANT PROPOSAL IN LAST 1 YEAR
KOSPI UP 2%, HANG SENG 1.8%, NIKKEI UP 0.4%, SHANGHAI UP 0.5%
REFINANCED INDIABULLS DEBT, LOWERING INTEREST COST BY 450 BPS
AIM TO REPAY RS.500-600 CRORE WORTH DEBT WITHIN NEXT 12 MONTHS
TAKEN FORWARD HEDGES AT 47.50-48/$ COVERING ORDERS FOR NEXT 6 MONTHS
ORDER BOOK HAS IMPROVED, CURRENT ORDER BOOK AT RS.500 CRORE
INVESTMENT IN ADS TO BE CONSISTENT; LONG TERM STRATEGY WORKING WELL
GROWING AT A COMPOUNDED RATE OF 25-28% OVER PAST FEW YEARS
GAPS IN COVERAGE & PRICING PLANS BRING POTENTIAL FOR DUAL SIM HANDSETS
MOBILE HANDSET MARKET HAS SEEN SIGNIFICANT GROWTH
NTPC SAID RIL'S DEADLINE TO FILE THE AFFIDAVIT ENDED ON OCT 15
NTPC HAD OPPOSED RIL REQUEST FOR AN EXTENSION TO FILE AFFIDAVIT
BOMBAY HC GIVES NTPC ONE WEEK TO FILE ITS REPLY
BOMBAY HC GIVE RIL A LAST CHANCE TO FILE ITS AMENDED AFFIDAVIT
BOMBAY HC GIVES 2 WEEKS TO RIL TO FILE ITS AMENDED AFFIDAVIT

Updated: 15/06/2009 | 01:34 PM IST

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Shweta Rajpal Kohli

Monday, June 15, 2009 (New Delhi)

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As the cash-strapped national carrier Air India grapples for funds, Civil Aviation Minister Praful Patel said the government would roll out a financial bailout package for the airline company.

In an exclusive interview to NDTV, Patel said Air india's bailout will happen soon but the government can’t give as much as Air India is seeking.

The slowdown has hit India's national carrier hard. Air India facing a severe financial crunch has told its 31,000 employees that salaries for the month of June will be delayed by 15 days. The airline has already asked for a bailout package of Rs 15,000 crores.