Air India receives Rs 10 billion from NSSF, to raise Rs 5 billion loan soon

Air India has raised Rs 10 billion from the National Small Savings Fund and is also expected to receive Rs 5 billion through short-term borrowings soon. Though the loan has been availed at a lower interest rate, the amount has to be repaid by March 2019. It will be utilised by the airline to meet its working capital requirements. The fresh funds have been raised in addition to the Rs 9.8 billion equity infusion that was received by way of supplementary grants from the central government in September 2018. Meanwhile, Air India‘s land monetisation plans has drawn a lukewarm response as it could sell only 17 of the 41 properties that it had put on the block, garnering only Rs 150 million against expectations of around Rs 4 billion.