New Delhi, Jan 3: State-owned Air India Monday reported a cash profit of Rs.21.66 crore for November 2010, owing to significant improvement in efficiency and better management strategies.
The operating surplus was a record of sorts in recent times given that the carrier has been ailing with accumulated losses touching nearly Rs.14,000 crore over the last four financial years and struggling with a debt of Rs.18,000 crore.
Air India said that November’s performance was “largely due to significant improvement in efficiency parameters, coupled by better yield management strategies and a mushrooming number of passengers showing faith in the national carrier”.
Of the 194 flights on the Air India network during November 2010, 108 made cash profits.
“The peak season for air travel would continue and our employees’ commitment to meet the challenge is evident” said Arvind Jadhav, chairman and managing director, Air India.
In the period April-November 2010, Air India recorded a network revenue of Rs.7,250 crore, compared to a revenue of Rs.5,911 crore during the corresponding period the previous year, a growth of 22.6 percent.
The airline registered an overall passenger load factor of 66.3 percent during April-November 2010, up from 63.1 percent achieved in the year-ago period.
The government last month cleared fresh equity infusion of Rs.1,200 crore but asked the airline to rationalise its wage bill, an issue which has been the bone of contention between the company’s management and unions. –(IANS)