Tuesday, May 16, 2017

Air India books bad; business as usual won't help, says Aviation Minister

Civil Aviation Minister Ashok Gajapathi Raju on Tuesday said Air India's books are "bad", and "business as usual" is not going to help it, but the Government wants the airline to survive.

AI is grappling with "legacy" issues, he added.

The minister's remarks came against the backdrop of Air India Chairman and Managing Director Ashwani Lohani stating in a Facebook post earlier this week that the massive debt on Air India's books is the root-cause of all its woes.

Lohani termed the over Rs 48,000 crore debt as "insurmountable" and blamed the policies of the erstwhile UPA government for its precarious finances.

"Air India is a lovely airline. It has all legacy issues. Its finances are very bad...The books are so bad that the business as usual is not going to help it," Raju told reporters here, after inaugurating Integrated Operational Office Complex building of the AAI, DGCA and the BCAS.
16/05/17 PTI/moneycontrol