Sunday, October 12, 2008

Crisis hits India: Airlines seek $1bn bailout

The global credit meltdown has hit home, and how. India's beleaguered airline sector has become the first industry to seek an official bailout from the government. The Federation of Indian Airlines (FIA) has asked for a $1 billion (about Rs 5,000 crore) interest-free loan from the government to tide over the current crisis in addition to many other fiscal sops and easing of regulatory measures. FIA, whose members...

more info-->>Crisis hits India: Airlines seek $1bn bailout - Worldnews.com

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