AI owes over Rs 1,200cr to oilcos: Patel

New Delhi: Cash-strapped Air India owes over Rs 1,200 crore to three public sector oil companies and is expected to incur a loss of Rs 5,400 crore in the last fiscal, the Rajya Sabha was informed on Tuesday.
The amount due to the three PSU oil companies as on April 20 is Rs 1,203.7 crore. Also, the airline is expected to incur a loss of Rs 5,400 crore approximately during 2009-10, civil aviation minister Praful Patel said in a written reply to the Upper House.
He said the national carrier has offices in 13 cities abroad — namely Los Angeles, Amsterdam, Milan, Vienna, Copenhagen, Moscow, Zurich, Cairo, Brussels, Tehran, Nairobi, Sydney and Chittagong but it does not operates its own flights to these destinations.
Patel also said that 77% of Air India's expenditure accounts for aviation turbine fuel, staff costs, interest on working capital borrowings and aircraft loan, hire of aircraft, maintenance of aircraft and landing, handling and navigational charges.
28/04/10 PTI/Times of India

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Categories: NACIL Apr 2010