Financial Daily from THE HINDU group of publications
Friday, Jan 28, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 28, 2005 |
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Airlines `AI, IA will not use returns from investment fund' Our Bureau
New Delhi , Jan. 27 THE Minister for Civil Aviation, Mr Praful Patel, on Thursday indicated that the public sector undertakings under his Ministry would not opt for using the returns that may be generated from the soon-to-be constituted National Investment Fund. "The proposed National Investment Fund has nothing to do with our scheme of things for the two airlines. We plan to use the monies that are raised from the proposed public offering by the airlines to fund their acquisition plans and also improve their debt-equity ratio," the Minister said. The Minister added that both Air India and Indian Airlines have been asked to start work on the proposed public offer. "The proposed public offer will take place during the financial year 2005-06, sometime during the later part. The whole process will take some time," Mr Patel said.
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