Friday, April 13, 2012
The Indian Cabinet Committee on Economic Affairs (CCEA) has approved a turnaround plan for flag carrier Air India. See Govt Approves Restructuring Plan for Air India, Times of India, April 12, 2012 (available here). Under the plan, the government will provide Air India with $5.85 billion worth of support between now and 2020. See Nikhil Gulati and Santanu Choudhury, India Approves Restructuring Plan for Air India, Wall St. J., April 12, 2012 (available here). The cabinet is expected to decide next week whether to allow foreign carriers to invest in Indian airlines.