Air India’s financial crisis deepens – USD1.3 billion in losses in three years
Air India is expected to lose USD1.75 million per day this financial year (ending 31-Mar-08), or around USD640 million, according to official estimates from the Ministry of Civil Aviation. That would equate to around half the domestic sector’s losses this year and take Air India’s losses alone over the past three financial years to USD1.3 billion. [1064 words]
Unlock the following content in this report:
- Cost cuts barely scratch the surface
- New aircraft continue to arrive
- Outlook: Bailout needed - with strings attached
Graphs and data:
- Indian carriers domestic passenger load factor in Aug-08
- Air India domestic passenger numbers (‘000s) and Passenger numbers growth (% change year-on-year): Jan-07 to Aug-08
- Air India domestic passenger share: Jan-07 to Aug-08
- Air India current fleet status: 01-Oct-08
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