Govt helps Air India avoid default, refinances Rs 700-crore NCDs

Govt helps Air India avoid default, refinances Rs 700-crore NCDs

The government has come to the rescue of the divestment-bound national carrier Air India, whose operations and revenue are crippled due to the coronavirus lockdown from a default on a Rs 700-crore debt repayment that was due Thursday. And till Wednesday, the management was struggling to arrange funds. "We have fully refinanced the debt with a short-term financing from a couple of banks", an Air India source told PTI without offering more details.

Read more at 
The Financial Express

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