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Thursday, Mar 25, 2004

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IA may make Rs 15-cr operating profit

Our Bureau

New Delhi , March 24

AFTER running into losses during the past three years, Indian Airlines is expected to book operating profits in the current fiscal. The board of Directors of the airlines on Wednesday approved the revised estimates for 2003-04 with an estimated operating profit of Rs 15.25 crore.

The airlines' board, in its meeting here today approved the revised estimates for the current fiscal and the budget estimates for fiscal 2004-05. The revised estimates indicate a net loss of Rs 41.25 crore, which is substantially lower than Rs 196.56 crore loss, incurred in 2002-03, according to a company release.

The budget estimates for 2004-05 indicate an operating profit of Rs 16.50 crore based on anticipated increase in capacity and better utilisation of capacity as well as general improvement in the economy.

However, the final outcome will depend to a great extent on the price of air turbine fuel (ATF). Massive increase on ATF prices during the past three years was one of the main reason's for the airline to suffer losses, the release adds.

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