By SUNIL Sonkar
New Delhi, March 09 — Civil aviation minister Praful Patel said Air India is expected to incur losses this fiscal year of around $1.8 billion (Rs.5,400 crore). He also added that in few more coming years the trend is likely to continue.
Patel told the Rajya Sabha on Tuesday, “The trend of losses is likely to continue for a few more years,” but he did not mentioned when Air India would start making profits.
Air India is the national carrier and is run by the National Aviation Co. of India Ltd (NACIL).
He showed the expected losses of the carrier will be about $1.8 billion (Rs.5,400 crore) in 2009-10 and this will mount to more than $2.64 billion (Rs.13,174 crore) in three straight fiscals. In 2007-08 Air India incurred a loss of $445.2 million (Rs.2,226.16 crore) and in 2008-09 it was $1.11 billion (Rs.5,548 crore).
The minister also said, “The airline has initiated action as part of the turnaround plan and is focusing on fleet and manpower rationalisation, route profitability, and structural changes. These plan envisages benefits of $382.2 million (Rs.1911 crore) for the current financial year.”
He added that the outstanding fuel dues of Air India till January end was $348.2 million (Rs.1741 crore).
Last month the government approved $160 million (Rs.800 crore) equity infusion for Air India in two instalments to overcome the cash flow problem and finance fleet acquisition plans.
AIR INDIA IS THE MOST CORRUPT AND ILL RUN BUSINESS EVER.AIR INDIA IS NOT A NATIONAL CARRIER, NOW INDIANS HAVE ALTERNATIVES. IT IS A NATIONAL SHAME. IT WILL SINK AND TAKE INDIA WITH IT. WITH THE MONEY THAT IT CRIMINALLY SQUANDERS EVERY YEAR INDIA CAN EDUCATE ALL ITS CHILDREN, AND BUILD IITS IN ALL DISTRICTS. SELL THIS MONSTER BACK TO TATAS AND SEE IT SOAR.