"Air India has proposed to convert Rs 1,000 crore of outstanding dues payable to AAI into equity thereby offering AAI a stake in Air India as well as a position on its board," Minister of State for Civil Aviation Jayant Sinha told the Rajya Sabha in a written reply.
"The proposal of Air India was considered but not accepted by AAI," he added.
Sinha disclosed that as on March 31, 2016, Air India owed a total outstanding dues of Rs 1,883.73 crore to AAI.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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