Air India says August passenger revenue rises 12 per cent

Mumbai: State-run Air India Ltd said on Thursday its passenger revenue for August rose to 9.98 billion rupees from 8.89 billion rupees a year ago, a growth of 12.3 percent, helped by an increase in load factors.
Air India also said the airline has recieved 12 billion rupees by way of equity infusion from the government in 2011/12.
The board of the loss-making airline has approved Rohit Nandan as its new chairman, it added.
Air India is in talks with banks to restructure $4 billion of working capital debt and is in the midst of implementing a turnaround plan with a hub-and-spoke route model focus, cut costs by redeploying staff and unload non-core real estate.
15/09/11 Economic Times

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Categories: Air India Sep 2011