Mumbai: State-owned Air India, which is reeling under a heavy debt of over R44,000 crore, expects to post around 30% higher revenue, at R1,200 crore, for its cargo segment during fiscal 2014, according to official sources.
During FY12 and FY13, the airline had reported revenues of R835.11 crore and R932.58 crore, respectively, for its cargo business. However, the national carrier’s overall losses for FY14 would be in the region of R3,900 crore, despite a projected 18% jump in revenues to R19,500 crore. The airline had reported a loss of R5,200 crore for 2012-13 and R7,560 crore the year before.
Airline officials said that though the company’s bottom line may be in red, its cargo vertical has been doing ‘good business’ in the last few years.
However, FE couldn’t independently obtain the profit/loss figures of the airline’s cargo business.
05/03/14 Rhik Kundu/Financial Express
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During FY12 and FY13, the airline had reported revenues of R835.11 crore and R932.58 crore, respectively, for its cargo business. However, the national carrier’s overall losses for FY14 would be in the region of R3,900 crore, despite a projected 18% jump in revenues to R19,500 crore. The airline had reported a loss of R5,200 crore for 2012-13 and R7,560 crore the year before.
Airline officials said that though the company’s bottom line may be in red, its cargo vertical has been doing ‘good business’ in the last few years.
However, FE couldn’t independently obtain the profit/loss figures of the airline’s cargo business.
05/03/14 Rhik Kundu/Financial Express
