Mumbai: The government has budgeted Rs 6,500 crore for national carrier Air India in the current fiscal year through March 31, as its latest tranche of equity infusion in the loss-making carrier.
The amount is higher than last year's tranche of Rs 6,000, but lower than the over Rs 7,000 support the airline had asked for.
The airline, loss-making since 2007, has been depending on cash handouts from the government to sustain operations.
Over the last couple of years, the airline has improved its finances. In the just ended financial year, the airline reduced its net loss to Rs 5,388.82 crore from Rs 5,490.16 crore in the prevous year. Revenue rose 15% to Rs 14,300 crore.
10/07/14 Anirban Choudhury/Economic Times
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The amount is higher than last year's tranche of Rs 6,000, but lower than the over Rs 7,000 support the airline had asked for.
The airline, loss-making since 2007, has been depending on cash handouts from the government to sustain operations.
Over the last couple of years, the airline has improved its finances. In the just ended financial year, the airline reduced its net loss to Rs 5,388.82 crore from Rs 5,490.16 crore in the prevous year. Revenue rose 15% to Rs 14,300 crore.
10/07/14 Anirban Choudhury/Economic Times
