Air India deeper in the red – but government help on the way?
The National Aviation Company of India (NACIL), the fully government owned holding company covering the combined operations of Air India and Indian Airlines, has nearly doubled losses for the fiscal year ended 31-Mar-09 to some USD840 million from USD468 in the prior year. The company has borrowings approaching USD3.2 billion, much of which has been raised to fund the large-scale acquisition of aircraft. [1479 words]
Unlock the following content in this report:
- And perhaps some private equity - in time
- New Chairman/CEO hits the ground running - and upsets staff with a key cost cutting measure
- Air India-Indian Airlines Integration still proceeds - but slowly
- Air India may fly all economy class on domestic routes
- Some international expansion, but non-performing international routes are rationalised
- New Maintenance, Repair and Overhaul (MRO) and Engineering base at Hyderabad
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