LETTER TO THE EDITOR Fasulo Would Fight For The People Is A

first_imgDear Editor,I am here to give my support and vote to Rob Fasulo.Rob and I atteneded the Shawsheen Tech in 1994. He was always a great friend. He showed leadership at a young age.Rob would be a great addition to the Board of Selectmen, bringing a small town feel to an ever changing growing town.Rob was born and rasied in Wilmington and really loves his town and community. He would fight for the people and stand by his word. Rob is a wonderful dad & husband. He is always willing to lend a hand to help.Thank you for your time.Truly yours,Jill T. MedeirosLike Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedLETTER TO THE EDITOR: Selectman Mike McCoy Endorses Rob Fasulo For SelectmanIn “Letter To The Editor”LETTER TO THE EDITOR: Selectman Mike McCoy Endorses Rob FasuloIn “Letter To The Editor”LETTER TO THE EDITOR: Fasulo Will Give Residents A Voice On The Board Of SelectmenIn “Letter To The Editor”last_img read more

Air India gets Rs 1500cr loan from Bank of India for working

first_imgAir India flightsReutersThe debt-ridden state-owned airline finally received a loan worth Rs 1,500 crore from Bank of India to meet urgent working capital needs. This is the second time in the recent months the carrier has received loans from a public sector lender, PTI reported.Earlier in October, Air India put out a requirement for government guarantee-backed Rs 1,500 crore short-term loans to meet urgent working capital requirements. The company then said that tenure of the loan will be one year and the amount proposed will be drawn in two or three tranches.The loan was required as part of efforts to revive the ailing carrier, which has a debt burden of more than Rs 50,000 crore.The disinvestment-bound national airline is facing some serious headwinds with only IndiGo showing interest in buying the international business of the carrier that has huge debt in its book and also roadblocks in selling non-core assets.Experts estimate that around Rs 30,000 crore of working capital debt needs to be written off for potential buyers to consider acquiring the airline. However, writing off the Rs 30,000 crore debts will lead to serious financial implications.The central government is currently at the final stage to decide the contours of the company’s strategic disinvestment. Air India is surviving on taxpayers’ money under the bailout package extended by the previous UPA government in 2012, reported the news agency.Prior to this loan, back in September, the airline had borrowed around Rs 3,250 crore as short tenure loans from two lenders—IndusInd Bank and Punjab National Bank.In nearly three months, at least two public sector lenders—Bank of India and Punjab National Bank—have provided loans to the airline to keep it afloat.As part of the turnaround plan, and to continue with the operation the national carrier is to receive as much as Rs 30,231 crore from the government over a 10-year period subject to meeting certain performance thresholds, according to the report.last_img read more