An official release said the accounts were considered by the Board here on Wednesday in the background of the global economic meltdown that resulted in fewer passengers and falling yields.
The International Air Transport Association had predicted that the aviation industry would lose $16.8 billion in 2008 and $11 billion in 2009 owing to weak revenue and an increase in operating costs. Reflecting the market trend, Air India’s total revenue dipped from Rs.15,252 crore during 2007-08 to Rs.13,479 crore in 2008-09 owing to the global recession and the fall in load factors and passenger yields.
The passenger load factor declined from 63.8 per cent in 2007-08 to 59.5 per cent in 2008-09. The number of passengers declined from 13.21 million in 2007-08 to 10.36 million in 2008-09, the release said.
source| 12/11/09 The Hindu
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