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Government on Tuesday said that national carrier Air India is estimated to suffer a loss of around Rs 5,000 crores in 2008-09 due tooperating losses, high oil prices and debt servicing
"National Aviation Company India Ltd (NACIL) expects to register a loss of approximately Rs 5000 crores in 2008-09," minister of state for civil aviation Praful Patel said in a written reply to a question in Rajya Sabha.
"The losses have been largely due to operating losses, which have been compounded due to the present economic recession as also the high oil prices last year and debt servicing on new aircraft," he said.
The minister said NACIL has initiated steps like integration and restructuring of network and schedules, fuel efficiency improvement measures and extended credit period for all vendors.
It has also put on hold promotions and recruitments. The staff has been asked to travel only economy class apart from measures for restructuring of loans and credits, the minister said.
In reply to another question, Patel said that Air India did not raise its fares in the recent past to remain competitive during the economic meltdown but was compelled to increase domestic fuel surcharge by Rs 400 in view of the increase in prices of ATF
"National Aviation Company India Ltd (NACIL) expects to register a loss of approximately Rs 5000 crores in 2008-09," minister of state for civil aviation Praful Patel said in a written reply to a question in Rajya Sabha.
"The losses have been largely due to operating losses, which have been compounded due to the present economic recession as also the high oil prices last year and debt servicing on new aircraft," he said.
The minister said NACIL has initiated steps like integration and restructuring of network and schedules, fuel efficiency improvement measures and extended credit period for all vendors.
It has also put on hold promotions and recruitments. The staff has been asked to travel only economy class apart from measures for restructuring of loans and credits, the minister said.
In reply to another question, Patel said that Air India did not raise its fares in the recent past to remain competitive during the economic meltdown but was compelled to increase domestic fuel surcharge by Rs 400 in view of the increase in prices of ATF
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