Fuel price hike adds to Air India woes,incurs Rs650 cr additional expense

New Delhi: Rising fuel prices have imposed an additional burden of Rs 650 crore on the state-owned carrier Air India during April-August, which is struggling to keep afloat.
"On account of the increase in fuel prices the airline incurred an additional expense on fuel of Rs 650 crore in the period April-August 2011, vis-a-vis last year," a statement issued after the performance review of Air India by Civil Aviation Minister Vyalar Ravi said.
According to the review, the airline managed to reduce its operational losses from Rs 507 crore in April 2011 to Rs 266 crore in August 2011.
The airline's operational performance in August 2011, showed a significant improvement over the corresponding month last year, while passenger revenue went up by 12.3 per cent, from Rs 889 crore to Rs 998 crore.
23/09/11 PTI/Economic Times

To Read the News in full at Source, Click the Headline

Categories: Indian Aviation- In General Sep 2011