YS Sujana Chowdary Updates from Rajya Sabha. Questions Debates and Current News
Thursday, August 11, 2011
Financial Crunch In Air India
GOVERNMENT OF INDIA
MINISTRY OF CIVIL AVIATION
QUESTION NO 1277
ANSWERED ON 11.08.2011
Will the Minister of CIVIL AVIATION be pleased to satate :- (a) whether Air India is facing financial crunch for the last two/three years. (b) if so, the details thereof; (c)whether Government/Management of Air India have taken any steps to improve the financial performance of the Company; (d):whether the Government has sanctioned Rs.250 crore as advance infusion; and (e) steps taken/being taken by Government to improve the financial performance of Air India?
ANSWER
MINISTER OF OVERSEAS INDIAN AFFAIRS & MINISTER OF CIVIL AVIATION ( SHRI VAYALAR RAVI ) (a) and (b): Yes, Sir. Air India incurred a loss of Rs.2226.16 crore during 2007-08, of Rs.5548.26 crore during 2008-09, of Rs.5552.55 crore during 2009-10 and the estimated loss for 2010-11 is Rs.6994 crore. (c) and (e): In order to improve its financial performance, Air India has taken various steps such as Rationalization of routes to cut losses, return of leased capacity, reduction of contractual employment, review of all agreement between management and staff on all technical and operational matters and constitution of Turn Around Committee (which includes representatives from senior management and unions) to look at all areas of reduction. (d): Pending payment of outstanding dues for VVIP operations, Government has paid an amount of Rs.500 crore on ad-hoc basis from the equity provision of Rs.1200 crore to Air India.
Will the Minister of CIVIL AVIATION be pleased to satate :- (a) whether Air India is facing financial crunch for the last two/three years. (b) if so, the details thereof; (c)whether Government/Management of Air India have taken any steps to improve the financial performance of the Company; (d):whether the Government has sanctioned Rs.250 crore as advance infusion; and (e) steps taken/being taken by Government to improve the financial performance of Air India?
ANSWER
MINISTER OF OVERSEAS INDIAN AFFAIRS & MINISTER OF CIVIL AVIATION ( SHRI VAYALAR RAVI ) (a) and (b): Yes, Sir. Air India incurred a loss of Rs.2226.16 crore during 2007-08, of Rs.5548.26 crore during 2008-09, of Rs.5552.55 crore during 2009-10 and the estimated loss for 2010-11 is Rs.6994 crore. (c) and (e): In order to improve its financial performance, Air India has taken various steps such as Rationalization of routes to cut losses, return of leased capacity, reduction of contractual employment, review of all agreement between management and staff on all technical and operational matters and constitution of Turn Around Committee (which includes representatives from senior management and unions) to look at all areas of reduction. (d): Pending payment of outstanding dues for VVIP operations, Government has paid an amount of Rs.500 crore on ad-hoc basis from the equity provision of Rs.1200 crore to Air India.
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