Tuesday, February 06, 2018

Three Air India entities making profit: Government

New Delhi: As many as three Air India group entities are profitable, with low-cost arm Air India Express garnering the maximum profit, the government said today.
The Union Cabinet has approved disinvestment of Air India and the government aims at completing its sale by year-end.
"Two subsidiaries of Air India namely, Air India Express Limited, Air India Air Transport Services Limited (AIATSL) and joint venture, namely AISATS, have been making profit," the Minister of State for Civil Aviation Jayant Sinha said in Rajya Sabha today in response to a question.
AIATSL is Air India's ground handling subsidiary.
AISATS is a 50:50 joint venture between Air India Limited and SATS Limited and provides catering services.
According to data shared by the minister, AI Express earned Rs 297 crore as profit in 2016-2017, while AIATSL and AISATS earned Rs 61.66 crore and Rs 66.06 crore, respectively.
However, AI Express recorded a 14 per cent decline in its profit and AIATSL showed 41 per cent drop in financial year 2017 as compared to the year before.
AISATS saw 20 per cent increase in its profit.
Some of the other subsidiaries of Air India include Air India Charters Limited, IAL Airport Services Limited, Airline Allied Services Limited, Air India Engineering Services Limited and Hotel Corporation of India Limited.
06/02/18 PTI/Times of India