Worst is over for Air India: Patel

New Delhi: Civil Aviation Minister Praful Patel on Tuesday said Air India has cut its losses by 25 per cent and the worst is over for the national carrier.
"The worst is over for Air India. The airline has managed to bring down losses from Rs.400 crore every month to Rs.300 crore," Patel told reporters on the sidelines of the US-India Business Council meet organised by the Confederation of Indian Industry.
Patel had last month informed the Rajya Sabha that Air India would incur losses of around $1.8 billion (Rs.5, 400 crore) this fiscal. The carrier had lost $445.2 million (Rs.2, 226.16 crore) in 2007-08 and $1.11 billion (Rs.5, 548 crore) in 2008-09.
Patel said the carrier will get an additional Rs.1, 200 crore in the current fiscal as announced in the budget.
13/04/10 Indo-Asian News Service/Hindustan Times

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Categories: NACIL Apr 2010