Minister of State for Civil Aviation Jayant Sinha on Monday said that the government's revival package for debt-ridden Air India is in final stages to make it a "strong, vibrant and globally competitive airline."
"Air India is on its way to become a strong, vibrant and globally competitive airline. We are working on a revival package for Air India that has four elements. The revival package is in its final stages," Sinha said while addressing a press conference here.
The revival package is being undertaken after the central government failed to divest the airline to private operators.
"As part of Air India's revival package, we are also looking at what we should do financially for Air India. The timeline is to do it as soon as possible. These are very complicated and detailed analysis that we have to do," Sinha added.
Earlier this year, the national carrier invited bids for Rs 1,000-crore Short Term Loan (STL) from financial institutions and banks to meet its "urgent working capital requirements".