The Reserve Bank of India is bringing out a debt repayment program whereby the aviation industry which has been long suffering under financial stress will finally get to breathe.

The RBI mandate has been deemed necessary for the aviation sector to come out of its stress.

The State Bank of India has exposed Rs. 3,500 crore to the aviation department, which makes up for 0.24 percent of the total advances.

In an estimate, the airline industry is in a debt of about Rs. 60,000 crore. Compared to Kingfisher's debt of Rs. 6,000 crore, Air India had a debt of about Rs. 40,000 crore as on March, 2010.

A guideline from the RBI regarding the debt recast is being anticipated by the banks.

Chief carriers like Air India and Jet Airways are looking forward to restructure their debt and have been discussing with banks as to how to get soft loans in place of high-interest ones.

The move of restructuring debts on the part of Air India has been deemed necessary because the aviation sector had gone through a very bad time globally in 2008-09.

The aviation sector is a major infrastructure sector and should be treated with care.