Friday, November 18, 2016

Air India posts Rs 246 crore operating loss in April-June quarter

New Delhi: Air India, which turned operationally profitable last fiscal, reported an operational loss of Rs 246.14 crore in the three months ended June 2016.

The operating loss in the first quarter of this financial year has come down from Rs 315.37 crore in the year-ago period, Minister of State for Civil Aviation Jayant Sinha informed the Lok Sabha today.

"The target fixed by Air India for operating profit for the first quarter of 2016-17 was Rs 87.28 crore against which the company has posted an operating loss of Rs 246.14 crore in the first quarter of 2016-17," he said in a written reply to the Lok Sabha.

Sinha said the main reason for operating loss was the decline in "revenue yields by around six per cent over the budgeted target resulting in decline in passenger revenue".
17/11/16 PTI/Economic Times