NEW DELHI -- The Indian government is making further cash injections into Air India conditional on improved efficiency as it looks to boost its chances of finally finding a buyer for the troubled flag carrier.
Saddled with debt of some 550 billion rupees ($7.69 billion) in debt, Air India has been outmaneuvered by private carriers in India's intensely competitive aviation market. High fuel prices and a weaker rupee have added to woes across the sector, with private carrier Jet Airways in the midst of its own financial crisis.
