ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Syrma SGS Technology IPO: Issue filled 37% on Day 1; should you subscribe? Anil Singhvi suggests this
  • Samsung Galaxy Z Fold 4, Galaxy Z Flip 4 price in India revealed - Pre-booking, offers and specifications
  • Har Ghar Tiranga campaign: Over 30 crore National Flags sold; CAIT says business worth Rs 500 crore generated
  • Atal Bihari Vajpayee death anniversary: Remembering the poet Prime Minister of India
  • From Rakesh Jhunjhunwala's portfolio: 5 Tata Group stocks that made him ace investor
Read in App
Business News » India News

Air India Q3 Report: Passenger revenue grows by 20 percent,earnings rises to Rs 5,538 crore

The loss-making Air India is estimated to have a debt burden of over Rs 48,000 crore and the government's efforts for strategic disinvestment of the carrier failed in May last year.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Air India Q3 Report: Passenger revenue grows by 20 percent,earnings rises to Rs 5,538 crore
Air India has been making losses since the merger with Indian Airlines in 2007. The airline has a fleet size of around 122 aircraft currently. Reuters

While Air India's passenger count rose by only 4 per cent in the December 2018 quarter, its revenue from passengers increased by 20 per cent on the back of better aircraft utilisation, said a senior official of the company."Due to better and efficient utilisation of aircraft fleet, the passenger revenue increased from Rs 4,615 crore in third quarter of 2017-18 to Rs 5,538 crore in third quarter of 2018-19," the official said.
The official added that the number of passengers has increased to 55.27 lakh during the quarter from 53.28 lakh in the year-ago period.

"This shows that passengers have increased by around 4 per cent...But our ASKM (available seat kilometres) has increased at a much faster rate," the official said.

ASKM indicates the passenger-carrying capacity of an aircraft. It is arrived at by multiplying the number of seats occupied by the distance travelled by the aircraft in kilometres during a particular period.

The loss-making Air India is estimated to have a debt burden of over Rs 48,000 crore and the government's efforts for strategic disinvestment of the carrier failed in May last year.

The official said passengers in December increased by 4 per cent but the revenue from them increased by 23 per cent during the month.

"In the third quarter, total 15 new flights were started by the company," the official added.

Speaking about the Air India's woes, Civil Aviation Minister Suresh Prabhu Friday said future revenues of the company cannot service its "massive" debt and this legacy issue has to be segregated from the current challenges of national carrier.

"If you feel that future revenues can actually service the debt, it is not possible for the simple reason that the debt is so massive," Prabhu said Friday during a livestream held on 'Flying for All: Global Aviation Summit 2019'.

Air India earns 65 per cent of its revenues from international routes, while the remaining comes from domestic network.

"Also, the cost of interest on the debt, when you try to service it from your revenues, Air India can never be in profit. Therefore, we have to address the debt issue. We are proactively working with the Ministry of Finance to make it happen," Prabhu added.

Air India has been making losses since the merger with Indian Airlines in 2007. The airline has a fleet size of around 122 aircraft currently.

"We have prepared a plan... We are trying to professionalise the entire management of Air India, right from the CEO (chief executive officer) downwards so that there will be a proper management structure so that Air India can reach to newer heights," he said.

Watch This Zee Business Twitter Video

दौड़िए दिग्गजों के साथ #BSEBullRun में 13 जनवरी सुबह 6 बजे, बांद्रा कुर्ला कॉम्लेक्स, मुंबई..हिस्सा लेने के लिए BULL लिखकर हमें 57575 पर SMS भेजें
या https://t.co/jA0ZyLT7qm पर रजिस्टर करें#HumFitTohIndiaFit @AnilSinghviZEE @sureshpprabhu @Ra_THORe @SMungantiwar @BSEIndia pic.twitter.com/3Qz8T8YDj0

— Zee Business (@ZeeBusiness) January 11, 2019

"But anybody, who comes in, will ask this question 'how do I deal with the legacy'. The same question I had to address when I took over as a minister.

The same question, Air India's new managing director or the new CEO or new board of directors would have to address - how do I deal with the past?" he added.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Air IndiaCivil Aviation Minister
Written By: PTI
Updated: Sat, Jan 12, 2019
03:35 pm
New Delhi, PTI
RELATED NEWS
Air India plans to bring back 10 wide-body aircraft into its fleet Air India plans to bring back 10 wide-body aircraft into its fleet
Air India's Dubai-Cochin flight grounded as it reports pressure loss Air India's Dubai-Cochin flight grounded as it reports pressure loss
Ripudaman Singh Malik, acquitted in 1985 Air India bombing, shot dead in Canada Ripudaman Singh Malik, acquitted in 1985 Air India bombing, shot dead in Canada
Air India alerts people about hoax communication; link offering Rs 6000, fake, says company Air India alerts people about hoax communication; link offering Rs 6000, fake, says company
CCI approves proposed acquisition of AirAsia India by Air India CCI approves proposed acquisition of AirAsia India by Air India

LATEST NEWS

Bihar Cabinet Expansion: Ministers List 2022 New - Names, ministries, portfolios - All details of RJD, JDU, HAM, Congress members

Bihar Cabinet expansion news: List of 30 probable ministers to take oath today

IRCTC share record date 2022 for payment of 75% dividend fixed - All details

Iran nuclear deal: Tehran submits final roadmap to restore tattered talks with world powers

Multibagger stock: This packaging company shares held by celebrity investor couple jumped over 117% in 2022 – Details

Milk price today: Amul hikes rates again in these states; check how much more you will have to pay now

Laal Singh Chaddha box office collection day 4: How Aamir Khan-starrer performed on weekend? Latest update here

Next Bank Holiday August 2022: Janmashtami on Thursday; check the full list of holidays in August

Vivo V25 Pro 5G price in India, specifications and availability - All you need to know ahead of Aug 17 launch

Independence Day 2022: How Indians abroad celebrate I-Day with zeal and fervour

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV