Monday, October 03, 2016

Air India Chairman Says Airline Moving Towards Turnaround

Bengaluru: The ailing Air India is moving towards a turnaround and expecting even better performance after narrowing its loss in the June quarter to Rs 246 crore, from Rs 316 crore in the corresponding period a year ago.

"Yes, we are definitely moving towards that turnaround. Last year it was good. This year would be better. Next year should be even better. We narrowed our June quarter loss to Rs 246 crore from Rs 316 crore in the corresponding quarter last year," Air India chairman Ashwani Lohani told reporters after inauguration of the airline's new booking office here.

Air India's operational margins were affected by an intense fare war unleashed by private carriers during the first quarter of this fiscal year, leading to the state-run carrier posting an operational loss of Rs 246 crore.

Asked how long it would take for Air India to come out of losses, Mr Lohani said he could not give a specific timeline due to factors relating to the market.
03/10/16 PTI/NDTV
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