No plans to privatise Air India: Civil Aviation Minister

India's Minister of State for Civil Aviation Shri G.M. Siddeswara stated (15-Jul-2014) no proposal to privatise Air India is under consideration with the Government at present. While giving the details of the losses and the equity for Air India infused by the Government in the last three years, the Minister described the main reasons of the losses suffered by the national carrier as "high operating cost environment, increase in the prices of aircraft fuel, depreciation of Indian Rupee vis a vis US dollar, increase in interest cost due to high working capital and aircraft loans, global recession leading to pressure on yields, entry of low cost carriers in domestic market and competition from foreign carriers in the international market, thus resulting in decline in yields and high airport charges". [more - original PR]