Air India revenues rise despite pilot strike

Victoria
By Victoria July 19, 2012 13:59

Air India revenues rise despite pilot strike

Anonymous sources quoted by an Indian newspaper have declared that Air India revenues rose by 17.8% in the second quarter indicated that the airline has not been adversely impacted by the 58-day strike by Air India pilots. The same sources claimed passenger revenue was up 1.2% although it dropped to Rs.32 crore from Rs.40 crore prior to the strike. Seat occupancy increased however to 75% from 70%.
The airline is also reported to be close to finalizing $1 billion for initial funding of its 787deliveries. Standard Chartered Bank is rumoured to be providing $220 million, while TTG-Goldman Sachs will combine to raise $470 million. A floating a public tender is out for another $122 million to buy the aircraft, according to the sources. Air India has declined to comment.

Victoria
By Victoria July 19, 2012 13:59
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