Air India's Losses Decline But Will It Survive ?
According to Civil Aviation Minister Ajit Singh, Air India is expected to incur an estimate loss of Rs 3989.58 crore for 2013-14, lower than the Rs 5490.16 crore reported in 2012-13, he said in the Lok Sabha. Overall, he informed that the national carrier earned a total revenue of Rs 20,259.24 crore and incurred total expenses of Rs 24248.82 crore in 2013-14.
However, while the carrier's losses have been reducing over the last three years, what is worrying is the huge debt on its balance sheet. Its out-standing debt stood at a whopping Rs 26,033 crore while working capital loans were over Rs 21,125 crore as on December 31 last year.