Air India posts Rs 4,600 cr operating loss in 2018-19; aims profit this fiscal

Agencies
September 16, 2019

New Delhi, Sept 16: Air India posted an operating loss of around Rs 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials.

Reflecting tough business conditions, the airline's net loss stood at about Rs 8,400 crore while total revenues touched around Rs 26,400 crore in 2018-19, one of the senior officials told news agency.

Another senior official said the airline is projected to post an operating profit of Rs 700 to 800 crore in 2019-20, provided oil prices do not shoot up significantly and there is no steep fluctuation in foreign exchange rates.

However, the airline incurred an operating loss of Rs 175 to 200 crore in the three months ended June as closure of Pakistan airspace for Indian carriers resulted in higher costs and caused a daily loss of Rs 3 to 4 crore when the restrictions were in place, the official said.

Air India had a loss of Rs 430 crore in the four-month period when Pakistan closed its airspace after the Balakot air strikes.

The official noted that load factor and yields are improving for Air India, which currently flies to 41 international and 72 domestic destinations. Load factor is a measure of seat occupancy and yield refers to average fare paid per passenger.

The situation is anticipated to improve further as more wide-body planes would be available for operations in the coming months, the official added. Air India had grounded several of its wide-body aircraft for maintenance and most of them are in the process of being re-inducted into the fleet.

Air India is to start flying to Toronto from September 27 and to Nairobi in November.

The airline has a debt burden of more than Rs 58,000 crore and servicing the loans is a major challenge as the annual outgo is more than Rs 4,000 crore.

The official who was quoted first said the carrier is facing a financial crisis and disinvestment is the option.

Aviation consultancy CAPA South Asia CEO and Director Kapil Kaul said Air India's financial position is likely to "significantly improve" in the current financial year.

"CAPA expects a closer to break-even in FY 20 excluding increased costs incurred due to closure of Pakistan airspace. With oil prices expected to stay below USD 60, expect a closer to break-even for Air India in FY 20, he told news agency.

Noting that improved financial performance would be a positive for divestment, Kaul said a fully divested Air India that is well capitalised and with improved governance and management would ensure that the airline has a relevant future.

India needs a stronger Air India which is viable without taxpayers' support, he added.

The government has decided on disinvestment of Air India as part of efforts to revive its fortunes. Air India, which has been in the red for long, was sanctioned a nearly Rs 30,000 crore bailout package for a 10-year period by the UPA regime in 2012.

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Well Wisher
 - 
Monday, 16 Sep 2019

Be careful passensgers, especially Gulf passengers, chances of mid-air fuel run-out is more. LOL

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Agencies
May 17,2020

Tehran, May 17: As many as 310 Indian pilgrims departed from Tehran, Iran for New Delhi by Mahan Air on Saturday. The group hails from Ladakh and will later go home to Leh by special flights.

"A group of 310 Indian pilgrims, hailing from Ladakh, departed Tehran for New Delhi by Mahan Air tonight (16th May). 
Thereafter, they'll go home to Leh by special flights," Embassy of India in Iran wrote on Twitter.

On Saturday, Minister of Civil Aviation, Hardeep Singh Puri said that over 13,000 people have returned under the Vande Bharat repatriation mission till date.

"More than 13,000 people have already returned on various flights under Mission Vande Bharat so far. Today, 812 citizens have returned on Air India and AirIndia Express flights from Newark, London, Dubai and Abu Dhabi. More flights continue," Puri wrote on Twitter.

Vande Bharat Mission, which started on May 7 to bring back stranded Indian nationals back home from other countries, initiated its second phase of the operation from Saturday (May 16) by sending three Air India flights to Dubai and Abu Dhabi.

Under the second phase of Vande Bharat Mission a total of 149 flights, including feeder flights, will be operated to bring back Indians from 40 countries. 

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News Network
July 18,2020

New Delhi, Jul 18: With 34,884 people testing positive for coronavirus in the last 24 hours, India's Covid-19 caseload surged to 10,38,716 while 6,53,750 patients have recovered from the disease so far, according to data by the Union Health Ministry.

The death toll due to Covid-19 rose to 26,273 with 671 fatalities reported in a day, the data updated at 8 am on Saturday showed.

At present, there are 3,58,692 active cases in the country, while 6,53,750 people have recovered so far and one has migrated.

"Around 62.94 per cent of patients have recovered so far," an official said.

The total number of confirmed cases includes foreigners.

This is the third consecutive day when the number of Covid-19 cases increased by more than 30,000.

According to the Indian Council of Medical Research (ICMR), a cumulative total of 1,34,33,742 samples have been tested for COVID-19 up to July 17 with 3,61,024 samples being tested on Friday.

Of the 671 deaths reported in the last 24 hours, 258 are from Maharashtra, 115 from Karnataka, 79 from Tamil Nadu, 42 from Andhra Pradesh, 38 from Uttar Pradesh, 26 each from West Bengal and Delhi, 17 from Gujarat, nine each from Jammu and Kashmir and Punjab, and eight each from Madhya Pradesh and Rajasthan.

Telangana has reported seven fatalities followed by Haryana with five deaths, Jharkhand, Bihar and Odisha reported four each, Assam and Puducherry have registered three each, Chhattisgarh and Goa reported two each while Kerala and Uttarakhand have registered a fatality each.

Of the total 26,273 deaths reported so far, Maharashtra accounted for the highest 11,452 fatalities followed by Delhi with 3,571 deaths, Tamil Nadu 2,315, Gujarat 2,106, Karnataka 1,147, Uttar Pradesh 1,084, West Bengal 1,049, Madhya Pradesh 697 and Rajasthan 546.

So far 534 people have died of COVID-19 in Andhra Pradesh, 403 in Telangana, 327 in Haryana, 239 in Punjab, 231 in Jammu and Kashmir, 201 in Bihar, 83 in Odisha, 51 in Uttarakhand and Assam each, 46 in Jharkhand and 38 in Kerala.

Puducherry has registered 25 deaths, Chhattisgarh 23, Goa 21, Himachal Pradesh and Chandigarh 11 each, Arunachal Pradesh and Tripura three each, Meghalaya and Dadra and Nagar Haveli and Daman and Diu two each while Ladakh has reported one fatality.

The Health Ministry stressed that more than 70 per cent of the deaths occurred due to comorbidities.

Maharashtra has reported the highest number of cases at 2,92,589 followed by Tamil Nadu at 1,60,907, Delhi at 1,20,107, Karnataka at 55,115, Gujarat at 46,430, Uttar Pradesh at 45,163 and Telangana at 42,496.

The number of Covid-19 cases has gone up to 40,646 in Andhra Pradesh, 38,011 in West Bengal, 27,789 in Rajasthan, 24,797 in Haryana, 23,589 in Bihar and 21,081 in Madhya Pradesh.

Assam has instances of 20,646 infections, Odisha 16,110 and Jammu and Kashmir 12,757 cases. Kerala has reported 11,066 novel coronavirus infections so far, while Punjab has 9,442 cases.

A total of 4,964 have been infected by the virus in Chhattisgarh, 4,921 in Jharkhand, 4,102 in Uttarakhand, 3,304 in Goa, 2,366 in Tripura, 1,832 in Puducherry, 1,800 in Manipur, 1,417 in Himachal Pradesh and 1,151 in Ladakh.

Nagaland has recorded 956 Covid-19 cases, Chandigarh 660, Arunachal Pradesh 609 and Dadra and Nagar Haveli and Daman and Diu together have reported 585 cases.

Meghalaya has reported 403 cases, Mizoram 282, Sikkim has registered 266 infections so far, while Andaman and Nicobar Islands has recorded 194 cases.

"Our figures are being reconciled with the ICMR," the ministry said, adding that 163 cases are being reassigned to states.

State-wise distribution is subject to further verification and reconciliation, it added.

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News Network
June 7,2020

Bhopal, June 7: In a shocking incident of medical cruelty, an 80-year-old man was tied to a hospital bed in Madhya Pradesh after he allegedly failed to make payment of fees for his treatment. The incident took place at the City Hospital in Shajapur.  

The hospital, however, claimed that he was having convulsions and as a result had his hands and legs tied so that he could not hurt himself.

The man’s family members have accused the hospital authorities of resorting to the heinous act after they failed to pay a fee of Rs 11,000 for his treatment at the. 

“We had deposited a bill of Rs 5,000 at the time of admission but when the treatment took a few more days, we did not have the money to pay the bill,” his daughter told the channel.

The hospital, however, maintained that the man was shackled because he was suffering from an electrolyte imbalance. “He was having convulsions because of electrolyte imbalance,” an unidentified doctor said. “We tied him so that he could not hurt himself.” 
The doctor claimed the hospital had waived off the man’s bill on “humanitarian grounds”.

Chief Minister Shivraj Singh Chouhan took cognizance of the matter and promised strict action against the hospital authorities. 

The Shajapur administration has also ordered an inquiry and has sent a police team to the hospital for investigation, the district collector told media persons.

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