22-Aug-2012 9:16 AM

Indian Ministry of Civil Aviation outlines loss development at Air India and Indian Airlines

India's Minister of Civil Aviation Ajit Singh stated (21-Aug-2012) erstwhile Air India had registered profit of INR651.4 million  (USD11.7 million) and INR124.3 million (USD2.2 million) in 2004/05 and 2005/06 respectively. During the same period, erstwhile Indian Airlines had also registered profit of INR716.1 million (12.9 million) and INR630.0 million (USD11.3 million). However, erstwhile Air India suffered a loss of INR5.4 billion (USD97.4 million) and erstwhile Indian Airlines suffered a loss of INR3.2 billion (USD57.8 million) during 2006/07. The merged Air India has also suffered loss of INR22.3 billion (USD400.6 million) in 2007/08, INR55.5 billion (USD1.0 billion) in 2008/09, INR55.5 billion (USD999.7 million) in 2009/10, INR68.7 billion (USD1.2 billion) in 2010/11 and the estimated loss for 2011/12 is INR78.5 billion (USD1.4 billion). [more - original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More