Air India eyes full year operating profit

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP October 7, 2010 16:38

Air India eyes full year operating profit

Air India, in the midst of a Rs.2,000 crore government bailout, could post a positive operating profit at the end of its annual year in March  2011. Even though the airline posted an operating loss of Rs.3,300 crore in 2009-10, strong passenger demand and as its turnaround programme begins to take effect, the airline expects to make a positive EBITDA profit.

The turnaround programme, initiated in late July, aimed to wipe out losses and repay the airline’s debt by 2014-15. Gustav Baldauf was hired as chief operating officer to oversee the programme. If the airline meets its cost-cutting and revenue targets, it will qualify for another equity infusion by the government of Rs.1,200 crore. “Going by the current environment and (if there are) no further drastic hikes in jet fuel prices, Air India will be able to report Ebitda-positive,’’ said a Air India executive to local media.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP October 7, 2010 16:38
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Fair-india-eyes-full-year-operating-profit%2F"> registered </a> users can comment.