In a bid to safeguard interests of ailing aviation sector, a Group of Minister will meet later this week to give final touches on allowing investments in Indian carriers by foreign airlines, direct import of jet fuel by Indian carriers and Air India's financial restructuring plan. 

The GoM meet on Thursday may also decide on the investment cap by foreign airlines in buying equity in Indian carriers, official sources said. 

The GoM is also likely to take a decision on allowing Indian airlines directly import aviation turbine fuel to get some breather from the high sales tax regime imposed by state governments. 

During the meeting, cash-strapped Air India's financial restructing plan (FRP) and turnaround plan (TAP) would come up for a review and a decision on injecting additional equity into the national carrier is likely to be taken. 

The debt-ridden carrier has outstanding loans and dues worth Rs 67,520 crore, of which Rs 21,200 crore is working capital loan, Rs 22,000 crore is long-term loan on fleet acquisition, Rs 4,600 crore is vendor dues besides an accumulated loss of Rs 20,320 crore, according to official figures. 

Civil Aviation Minister Ajit Singh, after his meeting with Finance Minister Pranab Mukherjee on January 17, had said that he had discussed the issue with him and that he had expressed his agreement to it. 

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