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Govt has not rejected debt recast plan: Air India

Govt has not rejected debt recast plan: Air India
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First Published: Wed, Dec 28 2011. 11 35 AM IST

Updated: Wed, Dec 28 2011. 11 35 AM IST
New Delhi: Finance ministry has not rejected state-run Air India’s $4 billion debt restructuring plan, but has merely asked for some clarifications and documents, a spokesman for the national carrier said on Wednesday.
Earlier in the day, the Economic Times newspaper said citing the financial services secretary that India has opposed the plan to recast debt of ailing state-run carrier Air India as it will force state-owned banks to take a big hit.
“Absolutely there is no rejection,” Air India spokesman G.P. Rao told Reuters.
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First Published: Wed, Dec 28 2011. 11 35 AM IST
More Topics: Air India | Aviation | Debt | Banks | Airlines |