Government-run airlines, Air India is likely to mint an operational profit as the fiscal wraps up, which would be its first since its 2007- merger with its domestic counterpart, Indian Airlines (renamed Indian later).
While junior aviation minister Mahesh Sharma told Rajya Sabha that Air India will make an operational profit of Rs 8 crore by the end of this fiscal, aviation secretary RN Choubey told ET the following day that Air India’s net profit would surface in 2019.
Should the airlines make a net profit in 2019, it would be before projection SBI Caps, the investment bank arm of State Bank of India. The expected developments would prove to be instrumental in overhauling Air India’s infamous reputation of being a dismal service provider given events like flight delays, cancellations, pilot strikes and the likes almost always grabbing the limelight. All this coupled with an array of griping customers had made Air India Indian aviation’sore point since a while, as per the ET report.
Although fingers have been pointed at Air India for being backed up by the government despite its mounting losses, given Rs 2,500 crore being injected into the airlines as part of the turnaround plan, reports suggest the airlines’operations have improved and that some progress is being made in this regard.
To Read the News in Full 22/03/16 IIFL
While junior aviation minister Mahesh Sharma told Rajya Sabha that Air India will make an operational profit of Rs 8 crore by the end of this fiscal, aviation secretary RN Choubey told ET the following day that Air India’s net profit would surface in 2019.
Should the airlines make a net profit in 2019, it would be before projection SBI Caps, the investment bank arm of State Bank of India. The expected developments would prove to be instrumental in overhauling Air India’s infamous reputation of being a dismal service provider given events like flight delays, cancellations, pilot strikes and the likes almost always grabbing the limelight. All this coupled with an array of griping customers had made Air India Indian aviation’sore point since a while, as per the ET report.
Although fingers have been pointed at Air India for being backed up by the government despite its mounting losses, given Rs 2,500 crore being injected into the airlines as part of the turnaround plan, reports suggest the airlines’operations have improved and that some progress is being made in this regard.
To Read the News in Full 22/03/16 IIFL
No comments:
Post a Comment