A solution to Air India's problem of servicing its huge debt burden may come about soon with the bankers consortium and the airline management holding a meeting in Mumbai today.

"We will be meeting the bankers' consortium tomorrow. We will have to see what is the debt and how much is to be converted and how that is to be done," said Air India CMD Arvind Jadhav.

The airline is saddled with a debt of about Rs 40,000 crore of which Rs 18,000 crore is working capital loans taken from a consortium of banks, while the balance Rs 22,000 crore worth of loans is towards payment of new aircraft ordered.

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