INSUBCONTINENT EXCLUSIVE:
package for embattled state-run carrier Air India are at an "advanced stage", Minister of State for Civil Aviation Jayant Sinha said on
Wednesday.The government has been working on a package for Air India after plans to sell a majority stake in the debt-laden airline failed
this year due to a lack of interest from bidders."We are going through the government approval process," Mr Sinha told reporters, without
giving details.Air India, which has survived for years with help from taxpayers, has asked the government for Rs 2,121 crore ($292 million)
in additional equity to pay the carrier's bills to vendors.The top civil aviation bureaucrat said in September that a $120 million capital
injection for Air India was on the way, and the government is also working on a relief package for the airline industry.Jet Airways, the
country's largest full-service carrier, and state-owned Air India are struggling to stem losses in the world's fastest-growing domestic
aviation market, where competition is intense and fuel taxes are high.The country's airline industry is forecast to lose up to $1.9
billion this financial year due to rising costs and low fares, according to consulting firm CAPA.The civil aviation ministry has proposed
