Loss-making Air India Ltd is advancing its targets to turn profitable as it hopes cheaper fuel, an expanded fleet and greater efficiencies will help turn around the airline, two officials familiar with the development said. The state-run national flag carrier plans to induct 100 leased planes in the next four years, they said.
Merchant banker SBI Capital Markets Ltd (SBI Cap), in consultations with ministry of civil aviation, has revised Air India’s turnaround plan (TAP) and financial restructuring plan (FRP).