11-Aug-2011 10:22 AM

Air India/Air India Express report losses of USD2.2bn from cancellations in May/Jun-2011

Air India and Air India Express cancelled 147 services between 27-May-2011 and 02-Jun-2011 due to fuel shortages resulting in a loss of around INR100 million (USD2.2 million), Civil Aviation Minister Vayalar Ravi informed the Lok Sabha, the lower house of the Parliament of India (PTI, 10-Aug-2011). The Minister said Air India and its subsidiaries owe INR23 billion (USD509 million) to public sector oil companies. Mr Ravi stated that airports have however not served notice to pay all the dues by a certain date.