Air India accumulated losses of about Rs 70,820 crore till March 31, 2020, says MoS Civil Aviation V K Singh

Air India has been suffering heavy losses since its merger with Indian Airlines in 2007 and it has accumulated losses of about Rs 70,820 crore till March 31, 2020, Minister of State for Civil Aviation V K Singh said on Wednesday.

Financial bids for Air India are likely to be received from qualified interested bidders by September 15 this year.

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The Centre had invited Expression of Interests (EoIs) for Air India on January 27, 2020. The last date of submission -- after multiple extensions due to Covid-19 pandemic -- of EoIs was December 14, 2020.

"Air India is suffering heavy losses since its merger and has accumulated losses of about Rs 70,820 crore till March 31, 2020," Singh said in his written reply to a question in the Rajya Sabha.