GOVERNMENT OF INDIA
MINISTRY OF CIVIL AVIATION
RAJYA SABHA
QUESTION NO 1102
ANSWERED ON 01.12.2011
Will the Minister of CIVIL AVIATION be pleased to satate :-
(a) whether Government is considering for equity fund infusion into Air India (AI);
(b) if so, the details thereof and reasons therefor;
(c) the details of equity fund injected during the last three years into Air India;
(d) the financial performance details of Air India for the last three years; and
(e) the intended measures to improve the performance of AI?
ANSWER
THE MINISTER OF OVERSEAS INDIAN AFFAIRS & MINISTER OF CIVIL AVIAITON (SHRI VAYALAR RAVI)
(a) and (b): Government has constituted a Group of Ministers(GoM) to reveiw/monitor the financial and oparational performance of Air India. On the directions of GoM, Air India had prepared its Turn Around Plan (TAP) and Financial Restructuring Plan (FRP), which have been examined by a Group of Officers (GoO). The recommendations of GoO have been referred by GoM for RBI’s views and regulatory forbearance on FRP.
(c): Government has infused Rs. 800 crore in the FY 2009-10, Rs. 1200 crore in FY 2010-11 and Rs.1200 crore for the FY 2011-12 as equity in Air India.
(d): Air India incurred a loss of Rs.5548.26 crore during 2008-09, Rs.5552.55 crore during 2009-10 and the estimated loss for 2010-11 is Rs.6994 crore.
(e): In order to improve its operating and financial performance, Air India has taken various steps such as Rationalization of routes to cut losses, induction of new aircraft on international routes to increase passenger appeal, phasing out of old fleet and consequential reduction in maintenance cost, return of leased aircraft at the end of their tenure or prematurely, enhanced utilizationof the new fleet resulting in production of higher ASKMs, Grounding of ageing fleet including B747-400 which would be used only for certain lines of operations and for operating VVIP flights,Increase in passenger/cargo revenue, excess baggage revenue through aggressive sales & marketing efforts including for attracting government traffic and upgradation of IT Infrastructure and solutions.
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