New Delhi: Air India (AI), the state-run carrier, almost halved its operating loss in the last financial year and its performance is continuing to improve, the government said on Tuesday.
AI, with a market share of around 20 per cent, suffered an operating loss of Rs 2,120 crore in the 2013-2014 financial year, down from Rs 3,800 crore in 2012-13 and Rs 5,140 crore in 2011-2012.
Total post-tax losses at the indebted airline, however, came in at Rs 5,380 crore, down slightly from a year earlier.
AI "has shown improvement in its financial parameters" since the government agreed a $5.8-billion bailout package for the company in 2012, minister of state for civil aviation G.M. Siddeswara told Parliament.
Siddeswara also said there are no plans to privatise the carrier dampening expectations that the government would attempt to sell off the airline, which is dependent on taxpayer cash.
16/07/14 Reuters/Business Today
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AI, with a market share of around 20 per cent, suffered an operating loss of Rs 2,120 crore in the 2013-2014 financial year, down from Rs 3,800 crore in 2012-13 and Rs 5,140 crore in 2011-2012.
Total post-tax losses at the indebted airline, however, came in at Rs 5,380 crore, down slightly from a year earlier.
AI "has shown improvement in its financial parameters" since the government agreed a $5.8-billion bailout package for the company in 2012, minister of state for civil aviation G.M. Siddeswara told Parliament.
Siddeswara also said there are no plans to privatise the carrier dampening expectations that the government would attempt to sell off the airline, which is dependent on taxpayer cash.
16/07/14 Reuters/Business Today
