Air India incurs over Rs 1700 cr loss in 3 years
The annual losses were Rs 604 crore, Rs 562 crore and Rs 539 crore respectively in 2011-12, 2010-11 and 2009-10, the Lok Sabha was informed today.india Updated: Aug 24, 2012 19:55 IST
Air India suffered losses of over Rs 1700 crore on its international operations in three years from 2009-10, the Lok Sabha was informed on Friday.
The annual losses were Rs 604 crore, Rs 562 crore and Rs 539 crore respectively in 2011-12, 2010-11 and 2009-10.
Details of the financial performance of the national carrier's international operations were given out today by civil aviation minister Ajit Singh in reply to a question in the Lok Sabha.
According to the figures, Air India earned a revenue of Rs 1,711.23 crore and incurred total cost of Rs 2,626.15 crore between April and June.
While almost all foreign sectors were making losses for Air India, the highest loss-making routes were to the US and Canada and Europe, the figures showed.
The airline earned revenue of Rs 1078 crore, Rs 1707 crore and Rs 596.9 crore on the US and Europe sectors in 2009 -10, 2010-11 and 2011-12, while its total cost stood at Rs 2057 crore, Rs 2861 crore and Rs 983 crore respectively during the same years.
The minister said Air India had taken several measures to improve and restructure its schedules and improve performance, including introduction of Boeing 777-200s and 777-300s on the main loss-making long-haul routes.
Product upgrades like introduction of the latest in-flight entertainment systems have also been undertaken on the medium-haul planes like Airbus A-321s, A-320s and A-319s, Singh said.