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]