New Delhi: Already reeling under huge losses and facing a liquidity crunch, Air India has suffered a loss of Rs 3,450 crores in the first half of the current fiscal. "As per provisional estimates, the losses before tax for the first half of the current financial year are approximately Rs 3,450.57 crores," Vayalar Ravi, Minister for Civil Aviation and for Overseas Indian Affairs, said in a written reply in the Rajya Sabha on Thursday.
The flag carrier 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.
The Union Government has released Rs 2,000 crores as equity infusion to the company to strengthen the balance sheet and improve the debt equity ratio of the national carrier.
03/03/11 Press Trust Of India/Hindustan Times
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