Air India facing cash deficit of Rs 250 crore every month: Report

CUTTING a sorry figure of the national carrier, the civil aviation ministry has admitted that Air India is unable to purchase all the spares it needs, resulting in idling aircraft, due to a monthly cash deficit of Rs 200-250 crore that affects availability of funds for maintenance.
The ministry has told Parliament’s Public Accounts Committee that a restricted cash flow was responsible for inoperational aircraft despite a turnaround plan (TAP) being in force since 2011 while fleet expansion had been hit by viability issues and an ongoing CBI probe into previous acquisitions.
“There is a cash deficit of Rs 200 crore to Rs 250 crore every...