National carrier will now reduce its aircraft loans after Finance Minister Arun Jaitley allocated Rs 1,800 crore to retiring debt that has been raised to fund fleet expansion of the debt-laden airline.
The airline has debt of about Rs 45,000 crore on its balance sheet: of the loans, Rs 14,000 crore are aircraft loans, while the rest are working capital funds that include non-convertible debentures of Rs 7,500 crore.
In the last fiscal, FY16, the airline posted a net loss of Rs 3,837 crore as compared to Rs 5,859 crore in the previous year.
While the allocation for the 2018 fiscal is about Rs 1,000 crore lower than Air India's demand of .Rs 2,800 crore, the national carrier expects the government will release more funds later.
03/02/17 Business Insider India
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The airline has debt of about Rs 45,000 crore on its balance sheet: of the loans, Rs 14,000 crore are aircraft loans, while the rest are working capital funds that include non-convertible debentures of Rs 7,500 crore.
In the last fiscal, FY16, the airline posted a net loss of Rs 3,837 crore as compared to Rs 5,859 crore in the previous year.
While the allocation for the 2018 fiscal is about Rs 1,000 crore lower than Air India's demand of .Rs 2,800 crore, the national carrier expects the government will release more funds later.
03/02/17 Business Insider India
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