NACIL projects benefits of Rs 1,911 crore during FY 2010: Civil Aviation Minister Praful Patel

Mumbai: According to a PIB release, Civil Aviation Minister Praful Patel recently informed the Lok Sabha that turnaround plan of National Aviation Company of India Limited (NACIL) has projected benefits of Rs 1,911 crore during Financial Year (FY) 2010. However, NACIL has achieved savings of Rs 753 crore in the FY 2010. The turnaround/financial restructuring plan of NACIL is being continuously monitored by the Indian government and further financial assistance has been linked with achievement of specified target.
The components of the restructuring plans of NACIL including fleet rationalisation, rationalisation of routes and manpower, operationalisation of Strategic Business Units, improving services, etc. are at various stages of implementation. The progress of the plan is being reviewed by the Indian government and GOM (Group of Ministers) on continuous basis.
Loss of Rs 447.43 crore (by erstwhile Air India) and Rs 240.29 crore (by erstwhile Indian Airlines), Rs 2226.16 crore (after merger) and Rs 5548 crore have been incurred by NACIL during financial year 2006-07, 2007-08 and 2008-09 respectively.
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Categories: NACIL Apr 2010