Thursday, February 08, 2018

Air India operating profit more than doubles to Rs 298 crore in FY17

New Delhi: Air India has been "consistently improving" its overall performance and more than doubled its operating profit to Rs 298.03 crore in the last financial year, according to the government.
The net loss of the state-owned airline however widened to Rs 5,765.16 crore in 2016-17. The divestment-bound national carrier had an operating profit of Rs 105 crore in 2015-16.
"Air India has been consistently improving its overall financial and operational performance since the implementation of the turnaround plan by the government," Minister of State for Civil Aviation Jayant Sinha said in a written reply to the Lok Sabha today.
In 2015-16, Air India had an operating profit of Rs 105 crore while net loss stood at Rs 3,836.77 crore.
The previous UPA government, in 2012, had approved a turnaround plan under which Air India is to receive a total equity infusion worth Rs 30,231 crore up to 2021 subject to meeting certain performance thresholds.
08/02/18 PTI/Times of India

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