Thursday, September 13, 2012

NEWS | Air India makes cash surplus, hopes for a turnaround

Air India Wednesday reported a cash surplus of Rs.48 crore during April-July 2012, reducing the net losses of the financially-stressed airline.
The national carrier had a cash deficit of Rs.586 crore during the corresponding period in the previous fiscal.

“For the first time since merger in 2007, Air India has made a cash surplus of Rs.48 crore during April-July, 2012,” Civil Aviation Minister Ajit Singh said on the sidelines of the induction of the first Boeing 787 Dreamliner aircraft into the carrier's fleet.
“The net losses of Air India during the period April-July 2012 have been reduced by Rs.557 crore,” Singh said.
According to the minister, the airline's expenditure was reduced by 4.4 percent in the period under review which stood at Rs.268 crore from like period of 2011.



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