Six out of eight Indian carriers post losses: Patel

Six of the eight scheduled airlines in India have posted cumulative losses of Rs.2,025 crore with Kingfisher Airlines accounting for Rs.1,602 crore, parliament was told ON Thursday.

Six of the eight scheduled airlines in India have posted cumulative losses of Rs.2,025 crore with Kingfisher Airlines accounting for Rs.1,602 crore, parliament was told ON Thursday.

HT Image

Only two -- IndiGo and Paramount Airlines -- both low-cost carriers, reported profits last fiscal, Civil Aviation Minister Praful Patel told the lower house of parliament.

IndiGo netted a profit of Rs.82.16 crore, and Paramount made Rs.7.26 crore.

Jet Airways posted losses of Rs.402 crore during 2008-09, while that of its low-cost carrier JetLite stood at Rs.630 crore.

The other two low cost carriers SpiceJet and GoAir reported losses of Rs.352.5 crore and Rs.22.55 crore, respectively.

The minister, however, did not provide details of the losses incurred by national carrier Air India for 2008-09 but gave figures for the previous fiscal that stood at Rs.2,226.16 crore.

However, according to an Air India official, the carrier's losses stood at Rs.7,200 crore last fiscal.