NEW DELHI: The broad outline of a new revival plan for Air India is ready, the second such rescue bid in the state-run carrier’s recent history which includes a failed divestment effort earlier this year.

The new strategy will involve the government transferring the airline’s working capital debt of about Rs 29,000 crore to a special purpose vehicle (SPV) known as Air India Assets Holding (AIAHL). That will more than halve the debt burden of the carrier, three officials told ET.This new ..