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
January 5,2020

Puducherry, Jan 5: Puducherry Lt Governor Kiran Bedi, a former IPS officer, became the butt of Twitterati jokes on Saturday after she tweeted that NASA recording of the sound of the sun was in fact 'Om' chant. She wrote at @thekiranbedi: "NASA recorded sound of the sun -- Sun chants Om."

The post got 5.6K retweets and 17.7K likes, and as many as 472.6K views.

One user remarked: "Wrong. The Sun said NaMo NaMo. You should've checked the UNESCO version along with the NASA version."

A post read: "And we thought you were intelligent."

One user posted a picture of Kiran Bedi with Sadhguru Jaggi who was trolled a few days ago after he posted his support on the Citizenship Amendment Act. He commented: "This picture can be provided."

A Twitter user reminded the former bureaucrat about the Indian Constitution's Fundamental Duties (Article 51A) that says that it shall be the duty of every citizens of India to develop scientific temper, humanism and the spirit of inquiry and reform.

Another wondered aloud: "We don't know how you cleared the Civil Services exams. We are ashamed...."

A user posted a clip of a well known stand-up comic who talked about the celestial hum which many claim to be Om chant.

A post read: "I consider this tweet by you as one of the best jokes of the millennium. The saffron brigade is successful in brainwashing learned people like you."
One user commented: "Once upon a time this lady was a hero to many. What a disgrace now!"

Comments

Ahmed Ali Kulai
 - 
Monday, 6 Jan 2020

Shame on you!!

 

Dont know how you are appointed as IPS officer

 

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News Network
January 29,2020

Jan 29: Multiple organisations have called for a Bharat Bandh today in order to protest against the recently passed Citizenship Amendment Act and the proposed National Register of Citizens (NRC). The Bharat  Bandh today has been organised in Surat in Gujarat, Jharkhand and Andhra Pradesh. Increased security measures have been put in place in the three states keeping in view the call for shutdown.

According to media reports, the call for Bharat Bandh was given by Maulana Sajjad Nomani of the All India Muslim Personal Law Board (AIMPLB). This was to protest against the controversial CAA-NRC. This call is supported by an NGO based in Surat, Versatile Minorities Forum (VMF). Apart from the VMF, the call for strikes has been supported by organizations such as Bahujan Kranti Morcha, National Association of Street Vendors of India Surat chapter and the Textile Market Workers' Union.

The workers of the VMF were also spotted distributing pamphlets and urging people to support the strike. Several shopkeepers have also put up notices stating that their shops will be shut for the day.

Earlier, Bharat Bandh was called by 10 trade unions and several bank employees in order to protest against the "anti-people policies of the government" on January 8 and 9. A few violent incidents during this Bharat Bandh were reported in West Bengal.

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Agencies
June 6,2020

Mumbai, Jun 6: Republic TV Editor-in-Chief Arnab Goswami faces a new complaint, this time under the Cable Televisions Network (Regulation) Act, 1995, for allegedly running the television channel "to create communal hatred, religious polarisation and threatening national integrity".

Social activist Nilesh Navlakha last month lodged a criminal complaint with the Commissioner of Police, Pune, through his lawyer Asim Sarode, under Section 2 of the Act.

"We have narrated six prominent, recent debate shows conducted by Goswami in which his arguments and words used were communal in nature which he kept repeating in his shows. The words and tonality are intended to promote communal attitudes and news is based on religious innuendos and half-truths," Sarode contended.

This leads to propaganda based on hatred, religious polarization and communal divide, said Navlakha in a statement.

He further said that the misuse of freedom of expression by Goswami and his channel posed a serious threat before the independent media as it violates the freedom of expression of the viewers, as it is the viewers' right to get correct, complete and true information.

Elaborating about Goswami's behaviour, Navlakha said that he has created what is termed 'Impulse Control Disorder' in psychiatry.
Sarode said: "Intermittent Explosive Disorder is a kind of 'impulse control disorder' which involves sudden episodes of impulsive, aggressive, violent behaviour or angry verbal outbursts in which you react grossly out of proportion to the situation."

They said that there are some more media persons displaying such tendencies in Hindi and English journalism, showing whatever is convenient and blow it out of proportion to give meanings which are out-of-context and disrupts the fabric of democracy while not fitting into journalism's ethics.

The complaint also alleged that Goswami and his channel are actually into "brainwashing" the viewers in a way that they will get converted into haters of some communities and terror for some religions.

"This is not less than running an organised crime syndicate of making the human minds to follow a fanatic terrorist thought process. When WhatsApp group admins are being booked under the law, then why the CTNRA provisions are not being invoked against such tendencies," Sarode asked.

In the complaint, it is pointed out how eminent persons have walked out of Goswami's shows because of his name-calling tactics, like labelling cricketer Sachin Tendulkar "anti-national" in one of his shows.

Navlakha and Sarode claimed that Goswami has violated the Programme Code under the CTNRA, the channel has indicated it is against sovereignty, integrity and security as also against public order, decency and morality, making it a serious issue and a cognizable offence.

It urged the Pune police chief to take suitable action against the wrongs committed to disturb the peace, law and order in society and book Goswami under the CTNRA Section's 16, which attracts a jail term of two years plus fine.

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