Financial Daily from THE HINDU group of publications
Sunday, Jan 02, 2005
Financial Daily from THE HINDU group of publications Sunday, Jan 02, 2005 |
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Airlines Logistics - Financial Performance AI posts cumulative loss of Rs 75.23 cr in Apr-Oct Ashwini Phadnis K.R. Srivats
New Delhi , Jan. 1 AIR India Ltd has registered a cumulative loss of Rs 75.23 crore during the period April-October 2004. The company had registered a profit of Rs 4.55 crore during the corresponding period in 2003-04, official sources said. The loss suffered by the state-owned airline during October last year stood at Rs 38.08 crore (provisional). It had recorded a net profit of Rs 3.5 crore during October 2003. The airlines suffered a loss in October despite carrying a higher number of passengers during the month under review compared to the same month in the previous year. During this month, AI carried 3,43,928 passengers compared to 3,00,472 passengers during October 2003. The total number of passengers during the first seven months of 2004-05 stood at 25,24,927 compared to 20,96,011 passengers flown during the same period in 2003-04. For the year ended 2003-04, AI had reported a net profit of Rs 92.33 crore as against Rs 133.86 crore during the previous year. The factors that contributed to the decline in profitability during 2003-04 were the outbreak of Severe Acute Respiratory Syndrome (SARS) and the pilots' strike during the first quarter and continued upward spiral of global fuel prices.
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