Business Daily from THE HINDU group of publications
Friday, Feb 29, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Feb 29, 2008 ePaper | Mobile/PDA Version |
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Financial Performance Corporate Results - Airlines Air India posted Rs 448-cr net loss in 2006-07: Patel Our Bureau New Delhi, Feb. 28 Air India incurred a net loss of Rs 447.93 crore and Indian Airlines reported a net loss of Rs 240.29 crore during 2006-07, the Minister for Civil Aviation, Mr Praful Patel, informed the Lok Sabha on Thursday. A combination of factors including the high price of aviation turbine fuel (ATF), rising labour costs and intense price competition among the airlines were the main reasons for the airlines reporting losses, the Minister said. The Government approved the merger of Air India and Indian Airlines into the National Aviation Company of India (NACIL) to improve the airlines operational performance and profitability, Mr Patel added. More Stories on : Financial Performance | Airlines
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