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Air India's FY11 H1 Loss at Rs. 3,450 crore
New Delhi, 04
The ailing national carrier Air India suffered a loss of Rs.
3450 crore in the first half of the current fiscal.
"As per provisional estimates, the losses before tax for the
first half of the current financial year are approximately Rs.
3,450.57 crores," Vayalar Ravi, Minister for Civil Aviation
and for Overseas Indian Affairs, said in a written reply in
the Rajya Sabha on Thursday.
The flag carrier has incurred losses to the tune of Rs.
2,226.16 crore, Rs. 5,548.26 crore and 5,552.44 crore during
2007-08, 2008-09 and 2009-10 respectively.
The Union Government has released Rs. 2,000 crores as equity
infusion to the company to strengthen the balance sheet and
improve the debt equity ratio of the national carrier.
In this budget, Finance Minister Pranab Mukherjee has made a
budgetary support of Rs. 1,200 crore to the ailing national
carrier as additional equity infusion.
This would be the third tranche of equity for Air India, which
received Rs. 800 crore and Rs. 1,200 crore respectively in the
2009-10 and 2010-11 budgets.