The Indian government has approved an advance equity infusion of Rs 250 crore to Air India to ensure that the airline can pay its bank debt and avoid a default. The airline was on the verge of defaulting on payment of installment on working capital loans of about Rs 22,000 crore for the third month in a row. Even with the new equity infusion, the airline will struggle to pay salaries to its 40,000 strong employees.

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