Air India is seeking funds for the modernization of systems and the development of engineering departments, in the context of major financial difficulties.
Lara Maior
Current Affairs
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Air India has requested financial support to modernize its systems and services, as well as to develop its own engineering and maintenance departments, considering the financial difficulties it faces. The company, 74.9% owned by Tata Group and the rest by Singapore Airlines, will receive financial assistance proportional to the share of each shareholder. It has not yet been decided whether the support will be offered in the form of an interest-free loan or equity. The funds will allow Air India to build hangars at key airports and improve airport services. The company's difficulties have worsened after the tragedy on June 12, when a Boeing 787 Dreamliner crashed during takeoff from Ahmedabad, resulting in the deaths of 260 people.
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