According to civil aviation ministry sources, Nacil is being forced into “distress borrowing” now since most banks are willing to roll over the company’s short-term loans. The exposure of banks has breached the limits set for a single company. “Instead, they (banks) have now demanded a comfort letter from the government,” said an official who did not want to be quoted.
Will AI survive.... Indian government has to do something quickly.... After all its the Flag carrier.....
Maharaja’s coffers go empty and the banks aren’t lending