Press Esc to close
Monday 24 April 2017
News updated at 8:10 PM IST

Air India losing Rs.404 crore per month

New Delhi, Dec 20 , 2012 (IANS) 19:03 IST
National carrier Air India suffered an average net loss of Rs.404 crore per month for the March-October period of 2012.

This was found out when Civil Aviation Minister Ajit Singh Thursday reviewed the functioning of the national carrier.

An audit of the airline's books showed that the company had a cash inflow of Rs.1,348 crore per month, while the outflow due to high fuel cost was Rs.1,752 crore, leading to the cash deficit.

"Though there is an overall improvement in the performance of Air India, it is important that the revenue generated should meet the costs incurred," the minister said in a statement.

The minister asked Air India to go into minute operational details to cut the costs, including those incurred on overseas offices, salaries, fuel and office expenses.

"The minister directed to examine the necessity of deputing staff abroad for assisting Air India, embassies for ticketing, since now-a-days these facilities are available online," the statement said.

The minister asked Air India to negotiate with public sector oil marketing companies (OMCs) for the same discount as they are providing to international and domestic carriers.

He directed the airline's management that of the Rs.2,000 crore which Air India is to receive next month in the form of equity under budgetary support, Rs.500 crore must be utilised to clear all arrears of the employees.

The airline's management was told to explore possibility of operating to Bali and Istanbul on the newly acquired Boeing 787 Dreamliner aircraft.

Air India, which has three Dreamliners, is expecting five more by the end of the current fiscal and plans to deploy them to Sydney, Melbourne and Singapore.

Go to Top

Photo Gallery
Cricketer Sachin Tendulkar being greeted by his fans on his 44th birthday at his residence in Mumbai

Cricketer Sachin Tendulkar being greeted by his fans on his 44th birthday at his residence in Mumbai

Girl students pelt stones at security personnel during clashes in the vicinity of Lal Chowk in ...

Girl students pelt stones at security personnel during clashes in the vicinity of Lal Chowk in ...

College girls shout slogans at a protest against the recent police action on students, in Srinagar..

College girls shout slogans at a protest against the recent police action on students, in Srinagar..

Potato farmers holding a protest over their various demands including proper cold storage ...

Potato farmers holding a protest over their various demands including proper cold storage ...

A man holds his head in despair after grains got drenched in rains at a market in Bikaner on ...

A man holds his head in despair after grains got drenched in rains at a market in Bikaner on ...

Woakes jubiliate with his teammates after the dismissal of Stuart Binny

Woakes jubiliate with his teammates after the dismissal of Stuart Binny

Chahal celebrates with Jadhav after the dismissal of Pathan

Chahal celebrates with Jadhav after the dismissal of Pathan

Virat Kohli celebrates with bowler S Badree after dismissal of Robin Uthappa

Virat Kohli celebrates with bowler S Badree after dismissal of Robin Uthappa

Hasim Amla plays a shot during the IPL 2017 match against Gujarat Lions

Hasim Amla plays a shot during the IPL 2017 match against Gujarat Lions

Floral chariots part of a procession during the annual 'Ulsoor flower Pallakki Festival'

Floral chariots part of a procession during the annual 'Ulsoor flower Pallakki Festival'

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.