Ailing AI spends more than it earns

While the Air India (AI) management has been claiming that they are turning around the country's national carrier, the truth is that the airline earns Rs 36 crore a day from its operations, while it spends Rs 57 crore.

These figures were disclosed in the Lok Sabha on Wednesday by the new civil aviation minister Vayalar Ravi. "We are paying compulsory payment abroad of Rs 16 crore and committed payment here in India is Rs 20 crore. But the total expenditure comes to about Rs 57 crore," Ravi said during the Question Hour.

AI does not even have enough money to pay its fuel bills and owes over Rs 2,280 crore to the public sector oil companies for jet fuel till the end of February this year. "The government has infused Rs 1,200 crore. Out of this, we have given Rs 475 crore to the oil companies. As it is, it is true that Rs 1,900 crore is still pending," Ravi said in the Lok Sabha.

Besides, an amount of Rs 12.5 crore is being paid daily by AI to oil companies on cashand-carry basis. Till date AI has paid Rs 1,147.5 crore under this scheme. Ravi said that the oil companies were not yielding to the government's requests of any concession. "They (oil public sector undertakings) have extended the credit facility to all the private airlines but not to Air India," he said.

"We are requesting that AI must get the treatment which is being extended to the private companies," the minister added. Air India, which is teetering under a massive debt burden of Rs 40,000 crore, suffered a loss of Rs 3,450 crore in the first half of the current fiscal, the minister said earlier this month.

According to the provisional estimates, the losses before tax for the first half of the current financial year (April-October) are approximately Rs 3,450.57 crore, Ravi told the upper house of Parliament on March 3.






By
Neha Jain

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