There are no plans to privatise the loss-making national carrier Air India (AI), aviation minister Ashok Gajapati Raju told the Parliament on Tuesday.
“Air India has shown improvement both in terms of operational and financial parameters in 2013-14 as compared to 2012-13,” Raju said. He added that AI’s load factors had improved, and its revenues had increased by 14.45% from Rs. 12,494.44 crore in 2012-13 to Rs. 14,300 crore in 2013-14.
“AI’s operating losses had declined by 44.2% to Rs. 2,123.78 crore and net loss had declined to Rs. 5,388.82 crore,” he said.
The government, as per the turnaround plan, has promised AI an upfront equity of Rs. 6,750 crore, equity for cash deficit support of Rs. 4,552 crore from 2012-13 to 2017-18 and equity for guaranteed aircraft loan of Rs. 18,929 crore till 2021.
AI owes Delhi International Airport Pvt Ltd a sum of Rs. 631.33 crore as on May 31, 2014 and Mumbai International Airport Pvt Ltd a sum of Rs. 350.56 crore as on 30 June, 2014.