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