Govt sanctions ₹349 cr for aviation companies

By Livemint

Companies in the aviation sector, including airlines like SpiceJet and GoAir, have been provided with guaranteed support to the extent of about ₹349 crore under the government’s Emergency Credit Line Guarantee Scheme (ECLGS), minister of state for civil aviation, VK Singh, said in the Rajya Sabha on Wednesday.

Responding to a query from member of Parliament K R Suresh Reddy, Singh said that while no funds have been separately allocated to the civil aviation sector, borrowers from the sector have been provided with guaranteed support of up to ₹349 crore, as of 16 July, as per information from National Credit Guarantee Trustee Company Limited (NCGTC).

According to data submitted by Singh, SpiceJet Limited has availed loans worth ₹127.52 crore, while Bird Worldwide Flight Services Mumbai Private Limited, a unit of Bird Group that operates ground handling services at Mumbai airport, has been guaranteed an amount of ₹8.5 crore under ECLGS 3.0. A total of ₹136 crore has been guaranteed under ECLGS 3.0.

Meanwhile, a net amount of ₹213 crore has been guaranteed to as many as eight companies ECLGS 2.0. These include CAE Simulation Training Private Limited ( ₹18.40 crore)

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