AI registers loss of Rs 1791 cr in 1st quarter of this fiscal

New Delhi: Unable to recover from the continuing losses and facing liquidity crunch, the national carrier Air India has registered a loss of over Rs 1,700 crore in the first quarter of this fiscal.
"The losses during the first quarter of 2010-11 are Rs 1791.38 crore. Air India has incurred losses to the tune of Rs 2,226.16 crore, Rs 5,548.26 crore and 5,552.44 crore during 2007-08, 2008-09 and 2009-10 respectively," Civil Aviation Minister Vayalar Ravi said in a written reply in Rajya Sabha today.
The airline has incurred losses mainly on account of increase in fuel prices, increase in interest and depreciation costs, increase in wage bill and increase in leasing and maintenance cost, he added. The Minister said that the government has infused a sum of Rs 800 crore during 2009-10 and Rs 1,200 crore during 2010-11 as equity in Air India, as it was passing through a tight financial and liquidity crunch. The national carrier's total revenue has increased by 20 per cent as compared to the corresponding period of 2009-10.
24/02/11 PTI/Economic Times

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Categories: Air India Feb 2011