Advertisement

HindustanTimes Mon,20 Oct 2014

Privatisation of Air India not on cards: aviation minister

HT Correspondent, Hindustan Times  New Delhi, July 08, 2014
First Published: 23:35 IST(8/7/2014) | Last Updated: 23:38 IST(8/7/2014)

 There are no plans to privatise the loss-making national carrier Air India (AI), aviation minister Ashok Gajapati Raju told the Parliament on Tuesday.

Advertisement

“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.


Advertisement
more from Business

Markets surge on diesel decontrol, assembly election results

The benchmark BSE Sensex spurted by over 392 points in opening trade on Monday on a rally by oil and gas and PSU stocks after the government on Saturday deregulated diesel prices and BJP stormed to power in Haryana and is all set to form government in Maharashtra.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved