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Friday, 22 December, 2017, 11 : 30 AM [IST]

Air India’s operational profit rises to INR 215 crore

Air India’s operational profit rose to INR 215 crore and net losses narrowed to INR 3,643 crore in FY17, according to provisional figures mentioned in a written reply given by Jayant Sinha, Minister of State for Civil Aviation, Government of India in the Lok Sabha on Thursday. Air India incurred a net loss of INR 3,836.7 crore though it managed to eke out an operational profit of INR 105 crore in 2015-16. “As per the provisional figures for financial year 2016-17, the total loans of the company as on March 31, 2017, are around INR 48,877 crore,” Sinha said.

To a question on whether the government has consulted all stakeholders, including workers’ unions before the disinvestment, he replied in the negative. To revive the loss-making national carrier, the government is working on modalities for its strategic disinvestment. An Air India Specific Alternative Mechanism, headed by Finance Minister Arun Jaitley, is working on the modalities. Various measures are being taken to improve the on-time performance of the airline, Sinha said.

Source: PTI
 
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