The finance ministry has agreed to furnish sovereign guarantees on loans raised by National Aviation Company India Ltd, which flies under the Air India brand name. A top source in the ministry confirmed: "Yes, we will provide sovereign guarantee to Air India on its loans. After all, it is a company owned by the government."
National Aviation Company India Ltd, which runs Air India, is likely to receive government approval for its second equity infusion of Rs 1,200 crore (Rs 12 billion) by next week.
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