• Air India expects ‘modest operating profit’ in FY16: Mahesh Sharma

    Air India, which has seen its operating loss fall consistently in the past few years, expects to post a “modest operating profit” for the just- concluded fiscal, Union Minister Mahesh Sharma said today.

    The national carrier is implementing a turnaround plan under which it is to get an equity infusion of Rs 30,231 crore up to 2021 subject to achieving certain milestones as laid out in the plan.

    “The operating losses of Air India have consistently reduced and 2014-15, the same stood at Rs 2,636.19 crore as compared to Rs 5,138.69 crore in 2011-12,” Sharma, who is the Minister of State for Civil Aviation, said in a written reply to Rajya Sabha.

    For the first time since merger of Air India and Indian Airlines in 2007-08, “Air India is expected to earn a modest operating profit during 2015-16”, he noted.

    To a query on whether it is a fact that the government is planning to constitute a committee to look into the possibility of disinvesting 49 per cent stake in Air India, Sharma replied in the negative.

    In a separate reply, Sharma said Air India shelled out Rs 18.46 crore towards advertisement and publicity in 2014-15 fiscal. During the same period, the expenditure on passenger amenities stood at Rs 722.54 crore. Leonard Fournette Authentic Jersey

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