Air India implements 'cost cutting and revenue augmentation': India Civil Aviation Secretary

29 November, 2018

India's Civil Aviation Secretary R N Choubey reported Air India is implementing a "cost cutting and revenue augmentation" plan which is expected to generate approximately INR20 billion (USD283.1 million) in "financial benefits" for the airline p/a (Economic Times/Financial Express/NDTV/Live Mint/Business Standard, 28-Nov-2018). Mr Choubey noted Air India is also expected to benefit significantly from decreased interest payments on its debts following the transfer of INR290 billion (USD4.1 billion) of debt to special purpose vehicle Air India Assets Holding. He added that the airline will be required to "show efficiency improvements" and financial improvements in order to receive funds from India's Government going forward.