Thursday, January 10, 2019

Forget Profit Making, AirIndia Lost Rs 15 Crore Everyday In Last One Year

Though the government is eyeing around $ 1 billion which comes to around Rs 7000 crore by selling the national carrier Air India, the airline lost Rs 15 crore on an average each day which explains government’s urgency of selling the airline.

According to a report by News18, the latest numbers published in the Public Enterprise Survey 2017-18.  The airline registered a net loss of about Rs 5,338 crore while earlier the government had explained in the parliament that the provisional net loss figure was lower at Rs 3,500 crore. It means Rs 1,800 crore were added to the net loss.  These figures, however, are “provisional” as these figures have not been put in parliament yet.
The fiscal year 2017-18 saw the income of the airline grow to Rs 23,900.48 crore from Rs 22,197.10 crores from the previous fiscal, the net loss too has decreased a bit with Rs 6,281.54 crore in 2016-17.

The government will initiate the process of strategic disinvestment of Air India in the second half of 2019-20 and in between it would work towards selling some of its subsidiaries and monetise assets.
10/01/19 India Times