Civil aviation minister Praful Patel said on Monday that his ministry has recommended an equity infusion of  Rs. 2,000 crore into beleaguered national carrier Air India in the next fiscal. 

Meanwhile, a day before a meeting of its board, Air India today claimed  on monday of improvement in its revenue, yields and overall passenger load factors since its turnaround plan came into operation over a year ago. During April-November this year, Air India recorded network revenue of Rs 7,250 crore as against Rs 5,911 crore achieved during the corresponding period last year, reflecting a growth of 22 per cent. The board is likely to review the airline’s overall performance at a meeting to be held tomorrow in Mumbai.

Out of the total network revenue, Rs 4,401 crore was recorded on international flights this year compared to Rs 3,801 crore last year, showing a gain of 15.8 per cent. Network revenue on domestic flights also jumped 35 per cent from Rs 2,110 crore in April-November 2009 to Rs 2,849 crore this year.“ The results are encouraging and reflect the commitment of our employees. We have begun the turnaround journey and we have a long way to go,” said Arvind Jadhav, CMD, Air India.

(You need to login first to read complete news).
New User? Register for FREE!
» Back to Travel News