The civil aviation ministry expects to announce Air India Ltd's revival plan in 2-3 weeks, Minister of State for Civil Aviation Jayant Sinha said in an exclusive interview with CNBC-TV18.

The package, which will have multiple elements, is largely concluded on the financial front and at the moment, discussions are in the final stages and approvals are being sought, Sinha said on Tuesday.

"Financial package...that we have largely concluded within the government with the discussion with the finance ministry. But there are other elements in the revival plan including refreshed strategy, series of governance and organisational reforms and a series of measures to strengthen workforce motivation and workforce development," Sinha said.

The packaged relief was expected to arrive last month. Aviation secretary R. N. Choubey had said on Monday that irrespective of when the package will be released, the government will continue to provide financial assistance to the airline from time to time.

CNBC-TV18 had exclusively reported in September that the government has decided to transfer Rs 29,464 crore of Air India's debt to a special purpose vehicle to clean up the distressed carrier's balance sheet.

In order to obtain approval from its lenders, the airline also conducted a meeting with a consortium of bankers on September 17 to "work out pre-conditions for shifting of loans."

“During the meeting, it was further discussed that as this would require transfer of loans from one entity to another, approval from Reserve Bank of India (RBI) will be needed as this would comprise second restructuring,” a source had told CNBC-TV18 on September 28.

The airline, which had outstanding loans of over Rs 48,400 crore as on March 31, 2017, has already received equity infusion of around Rs 27,200 crore from 2012 till March.

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