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Friday, 09 February, 2018, 17 : 00 PM [IST]

Air India more than doubles its operating profit in 2016-17

Air India more than doubled its operating profit to INR 298.03 crore in the last financial year, according to the government. The net loss of the stateowned airline however widened to INR 5,765.16 crore in 2016-17. The divestment-bound national carrier had an operating profit of INR 105 crore in 2015-16. “Air India has been consistently improving its overall financial and operational performance since the implementation of the turnaround plan by the government,” Jayant Sinha, Minister of State for Civil Aviation, Government of India said in a written reply to the Lok Sabha.

In 2015-16, Air India had an operating profit of INR 105 crore while net loss stood at INR 3,836.77 crore. The previous UPA government, in 2012, had approved a turnaround plan under which Air India is to receive a total equity infusion worth INR 30,231 crore up to 2021 subject to meeting certain performance thresholds. Out of the total amount, INR 26,545.21 crore has already been infused into the airline till now. As part of the turnaround plan, Air India has been taking various measures.

Source: PTI
 
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