The Ministry of Civil Aviation has decided to ask the Ministry of Finance to lend a hand to the airline industry. It wants the Finance Ministry to ask banks to reschedule the debt of the domestic airline industry. The debt of Jet Airways, Kingfisher Airlines and Air India together is estimated at more than Rs 50,000 crore, according to the Centre for Asia Pacific Aviation (CAPA).
Official sources, while confirming the development, told Business Line that the acceptance of the proposal would not only help private airlines but also Air India. At the end of March 31, 2009, Jet Airways had secured loans of Rs 4,500.92 crore, while the unsecured loans stood at Rs 11,547.61 crore. Kingfisher's debt is estimated at about Rs 5,500 crore.
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This should not happen to BSNL.
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