Air India budget allocation increased to $1.6 billion

In a bid to strengthen the financial position of Air India, the Indian government yesterday substantially increased the allocation for its holding company, National Aviation Company of India Ltd. (NACIL), by about Rs 4,029 crore (approx $806 million) in the interim Budget 2009-2010. Almost the entire increase in allocation for the Ministry of Civil Aviation…

Oil companies force ‘cash and carry’ terms on Kingfisher while letting Air India slide

Kingfisher is the largest defaulting private airline in India, and this has finally caught up with it. State owned oil marketing companies (OMCs), who claim they are owed about Rs. 1,000 Crore ($200 million), have enforced ‘cash and carry’ payment terms on the airline, since it has not cleared its dues, even after the extended…

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Air India budget allocation increased to $1.6 billion

Oil companies force ‘cash and carry’ terms on Kingfisher while letting Air India slide