Air India's loss stand at INR2.46b in Q1, narrows from INR3.16b last year
Air India's turnaround — announced by prime minister Narendra Modi in his Independence Day Speech — seems unlikely, as the carrier has reported operating loss of INR2.46b during Q1 of the current fiscal. The Q1 loss has narrowed from INR3.16b during the same period last year, it is much below the airline's expectation of making about INR900m in operating profit during Q1. In contrast, all other listed airlines in the country have made net profits during the same period on the back of lower fuel prices and rising demand for travel. The revenues during the period have increased marginally by INR1.21b. Marginal increase in revenues was a concern raised by the prime minister's Office in its first review July 6. Analysts feel that the airline has always been in turnaround mode but cannot turnaround unless the real problems are addressed. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-28/star/air-indias-loss-stand-at-inr2-46b-in-q1-narrows-from-inr3-16b-last-year
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Air India's loss stand at INR2.46b in Q1, narrows from INR3.16b last year
Air India's turnaround — announced by prime minister Narendra Modi in his Independence Day Speech — seems unlikely, as the carrier has reported operating loss of INR2.46b during Q1 of the current fiscal. The Q1 loss has narrowed from INR3.16b during the same period last year, it is much below the airline's expectation of making about INR900m in operating profit during Q1. In contrast, all other listed airlines in the country have made net profits during the same period on the back of lower fuel prices and rising demand for travel. The revenues during the period have increased marginally by INR1.21b. Marginal increase in revenues was a concern raised by the prime minister's Office in its first review July 6. Analysts feel that the airline has always been in turnaround mode but cannot turnaround unless the real problems are addressed. <br/>
