Main News Air India incurred a loss of Rs.2226.16 crores during year 2007-08
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| Air India incurred a loss of Rs.2226.16 crores during year 2007-08 |
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Air India had incurred a loss of Rs.2226.16 crores during year 2007-08. It is expected to incur a loss of Rs.5,000 crores approximately (Prov.) during the year 2008-09. The reasons for losses are mainly due to the prevalent economic recession and low yields and load factors. The above information was given by the Minister of Civil Aviation, Shri Praful Patel in Rajya Sabha . Erstwhile Air India is incurring losses since 2004-05. The Minister also informed that NACIL has taken several initiatives to turnaround the performance of the company focusing on Cost Reduction and Revenue Enhancement. The Committee of Secretaries have taken note of the proposals for restructuring of Air India. Government will arrive at a decision upon those proposals. |
