Air India pares losses in Q1 by 93%

New Delhi: Riding on the back of higher yields and increased number of passengers, Air India has been able to reduce its operational losses in the first quarter of the current fiscal by around 93 per cent to Rs 37 crore from Rs 500 crore during the same period of the previous year.
In a presentation that was made last month by the beleaguered airline to the oversight committee monitoring is turnaround, the airline said that it achieved a passenger load factors of 73 per cent during the period that it was to achieve in 2015, according to the turnaround plan.
Air India is under accumulated losses of Rs 20,000 crore and debt on its books of over Rs 43,000 crore — a large part of its short-term debt has been restructured.
03/09/12 Mihir Mishra/Financial Express

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Categories: Air India Sep 2012