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Many parties jealous about Air India’s success: Aviation Secy

Tuesday, Apr 5, 2016,12:19 IST By Metrovaartha A A A

New Delhi | Air India’s performance has improved in recent times and many parties are jealous about its success, Civil Aviation Secretary R N Choubey today said and asserted that there is no stake sale plan for the carrier.

His assertion comes amid reports suggesting that the government might be looking to offload stake in Air India, which is in the red.

There is not any divestment plan for Air India. False rumours are being spread by those who are jealous. Many parties are jealous about Air India’s success, Choubey said.

Speaking at the pre-launch function for Air India’s non-stop Delhi-Vienna flight, Choubey noted that the carrier has improved its performance in recent times.

The Delhi-Vienna flight launch will be on April 6. It will fly three times a week.

Air India is expected to cut its losses by 40 per cent to Rs 3,529.80 crore in the last financial year, which ended on March 31. In 2014-15, the airline had a net loss of Rs 5,859.91 crore.
The airline is surviving on a Rs 30,231 crore bailout package extended by the previous UPA government in 2012. The Turnaround Plan (TAP) runs till March 2021.

In the 2016-17 Budget, Air India has been allocated Rs 1,713 crore as part of the Rs 30,0231 crore financial bailout package.