Air India lost Rs 8,400 crore a year

New delhi date. 16 September 2019 Monday

Shocking figures revealed that Air India lost Rs 8,400 crore during the last financial year 2018-19. However, this is always happening. This was done on the pretext that the aviation fuel was expensive and the operating costs were excessive so the losses were lost. It was further stated that due to Pakistan closing its airspace, Air India lost about three to four crore daily.

Air India can start a new airlines with as much capital as it did last year. The market capitalization of the currently successful SpiceJet is just Rs 8,000 crore, which means that a new airline can be started with the capital that Air India lost in a year.

Air India had grossed 26,400 in the last year. A government official said that Air India suffered a loss of 150 to 200 crores in the three months from April to June as Pakistan closed its air space. The official also claimed that the loss figure till July 2 was Rs 491 crore.

Pakistan closed airspace in February when India first performed a surgical strike in Balakot. After that, India canceled the 370th clause giving special status to Jammu and Kashmir, and once again Pakistan closed its airspace. As a result, not only Air India, SpiceJet, Indigo and Goer also suffered huge economic losses.

However, this official hopes that if the fuel price hike is not increased again and the foreign exchange price fluctuations do not hurt the rupee, then Air India will stabilize once again in the current financial year. The reason for this is that the official says that the seat occupation of Air India is gradually increasing. Currently Air India operates 72 domestic and 41 international flights.