Tatas readying Air India's low-cost arm AIX Connect to expand flights

Authorised share capital doubled to Rs 10,000 cr; borrowing limit raised from Rs 2,800 cr to Rs 4,500 cr

The Tata Group is getting Air India's low-cost subsidiary AIX Connect financially ready in order to expand its flight operations. It has raised AIX Connect's authorised share capital from Rs 5,200 crore to Rs 10,000 crore and increased its borrowing limit from Rs 2,800 crore and Rs 4,500 crore.

Increasing the authorised share capital allows the owner to issue more shares in order to infuse more money into the company. The Tata Group is currently in the final stage of talks with Boeing and Airbus to place a "historic" aircraft order for Air India and its low-cost subsidiary.

AIX Connect,