Privatisation of Air India not on cards: aviation minister - Hindustan Times
close_game
close_game

Privatisation of Air India not on cards: aviation minister

Hindustan Times | By, New Delhi
Jul 08, 2014 11:38 PM IST

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

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.

Hindustan Times - your fastest source for breaking news! Read now.

“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.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On