13-Sep-2012 9:37 AM

Air India reports first cash surplus since merger in Apr-Aug-2012

India's Minister of Civil Aviation Ajit Singh stated (12-Sep-2012) despite an over 17% reduction in capacity due to pilot strike action at Air India, the carrier posted a revenue increase of 6.5% in the Apr-2012 to Aug-2012 period. Revenues stood at INR47.57 billion (USD862 million) during this period, while expenditure declined 4.4%. Mr Singh noted, "For the first time since merger in 2007, Air India has made a cash surplus of Rs. 48 crores (surplus over variable costs) during April-July 2012 which is a considerable improvement against a cash deficit of Rs. 586 crores during the same period in previous year". Net losses declined from INR22.90 billion (USD414.7 million) to INR17.33 billion (USD313.9 billion). The revenue on the domestic network increased by 33% during the period to INR21.19 billion (USD383.8 million), with passenger numbers increased 9.6% to 3.67 million. Passenger load factors increased by 2 ppts to 71.8%. Yield increased by 25.1% to INR4.29 (USD 7.77 cents) per passenger kilometre while on-time performance increased 17 ppts to 86%. [more - original PR]

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