Mumbai: Air India is aiming to improve its financial result by pruning loss making routes, improving fleet utilisation, increased web sales and carrying out sale and lease back of fourteen Boeig 787s by March end, top airline executives said in Mumbai on Monday.
Air India is expected to reduce its full year loss to Rs 3,900 crore at the end of fiscal down from Rs 5,200 crore in FY 2013. The operating costs moved up sharply due to increase in fuel prices and rupee depreciation making it critical for the airline to emphasise on increasing its revenue and cost saving.
The airline has carried out a sale and lease back of two of its Boeing 787s and earned a profit of $30 million in the transaction and will complete the sale and lease back of the remainder by March end. Also it plans to sell three remaining fuel guzzling Boeing 777-200LRs.
Air India sold five of its Boeing 777-200LRs to Etihad last year for about $350 million.
13/01/14 Aneesh Phadnis/Business Standard
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Air India is expected to reduce its full year loss to Rs 3,900 crore at the end of fiscal down from Rs 5,200 crore in FY 2013. The operating costs moved up sharply due to increase in fuel prices and rupee depreciation making it critical for the airline to emphasise on increasing its revenue and cost saving.
The airline has carried out a sale and lease back of two of its Boeing 787s and earned a profit of $30 million in the transaction and will complete the sale and lease back of the remainder by March end. Also it plans to sell three remaining fuel guzzling Boeing 777-200LRs.
Air India sold five of its Boeing 777-200LRs to Etihad last year for about $350 million.
13/01/14 Aneesh Phadnis/Business Standard
