New Delhi: Air India today said it expected to meet the financial targets, set by the government under a turnaround plan, in the second quarter of this fiscal.
The national carrier said it was managing to do well despite a spike in the price of aviation turbine fuel (ATF) and the fluctuating rupee.
“Though we are facing unexpected increase in ATF cost and wild fluctuation in rupee value against the dollar, we are hopeful that we will be able to achieve our financial targets,” Air India chairman and managing director Rohit Nandan said.
He said the airline had trimmed its losses to around Rs 11 crore per day from around Rs 50 crore.
“We were given some financial targets by the government as part of our turnaround plan, and we have met them and registered EBIDTA positive for the first time in seven years, despite a strike last year,” he said on the sidelines of a function to launch the Air India-SBI co-branded credit card on Monday.
Read news in full 17/09/13 The Telegraph
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