<p>Air India has suffered a loss of Rs 10,879 crore in the past two fiscals, the Lok Sabha was informed on Monday.<br /><br /></p>.<p>While the national carrier’s provisional losses in 2013-14 stood at Rs 5,389 crore, it lost Rs 5,490 crore in 2012-13. The government said it was taking a number of measures to beef up its financial position.<br /><br />Replying to written questions on Air India, Civil Aviation Minister Ashok Gajapathi Raju said measures like upfront equity infusion of Rs 6,750 crore, equity for cash-deficit support of Rs 4,552 crore till 2017-18 and equity for already guaranteed aircraft loan of Rs 18,929 crore till the financial year 2021 are being taken up.<br /><br />He also said Rs 7,400 crore was being paid to Air India as government guarantee for repayment of the principal amount and interest payment on non-convertible debentures proposed to be issued by the airline to financial institutions, banks and the Life Insurance Corporation.<br /><br />Raju said AI employees were paid salaries until May this year and ad hoc or flying allowances until April. He also expressed confidence that Air India’s passenger revenue was expected to grow by 3-5 per cent with the carrier joining Star Alliance on July 11.<br /></p>
<p>Air India has suffered a loss of Rs 10,879 crore in the past two fiscals, the Lok Sabha was informed on Monday.<br /><br /></p>.<p>While the national carrier’s provisional losses in 2013-14 stood at Rs 5,389 crore, it lost Rs 5,490 crore in 2012-13. The government said it was taking a number of measures to beef up its financial position.<br /><br />Replying to written questions on Air India, Civil Aviation Minister Ashok Gajapathi Raju said measures like upfront equity infusion of Rs 6,750 crore, equity for cash-deficit support of Rs 4,552 crore till 2017-18 and equity for already guaranteed aircraft loan of Rs 18,929 crore till the financial year 2021 are being taken up.<br /><br />He also said Rs 7,400 crore was being paid to Air India as government guarantee for repayment of the principal amount and interest payment on non-convertible debentures proposed to be issued by the airline to financial institutions, banks and the Life Insurance Corporation.<br /><br />Raju said AI employees were paid salaries until May this year and ad hoc or flying allowances until April. He also expressed confidence that Air India’s passenger revenue was expected to grow by 3-5 per cent with the carrier joining Star Alliance on July 11.<br /></p>
