Air India's operational profit rises to Rs 215 cr in 2016-17
Air India's operational profit rose to Rs 215 crore and net losses narrowed to Rs 3,643 crore in 2016-17, according to the government.
To revive the loss-making national carrier, the government is working on the modalities for its strategic disinvestment while Ernst & Young LLP has been appointed as the transaction advisor.
According to provisional figures mentioned in a written reply given by union minister Jayant Sinha in the Lok Sabha, the airline has increased its operational profit to Rs 215 crore in the last financial year.
In 2016-17, the airline had a net loss of Rs 3,643 crore while operating profit rose to Rs 215 crore, the provisional figures showed.
Air India incurred a net loss of Rs 3,836.77 crore even as it managed to eke out an operational profit of Rs 105 crore in 2015-16.
"As per the provisional figures for financial year 2016- 17, the total loans of the company as on March 31, 2017 are around Rs 48,877 crore," Sinha said.
To a question on whether