New Delhi, April 28 (IANS) The government on Thursday said that national passenger carrier Air India is likely to suffer a net loss of Rs.2,636 crore during 2015-16.
According to the Minister of State for Civil Aviation Mahesh Sharma, the airline had posted a net loss of Rs.5,859.91 crore during 2014-15.
“With regard to Air India, it is likely to suffer a total net loss of Rs.2,636 crores in 2015-16,” Sharma said in a written reply during question hour in the Lok Sabha.
“It may be stated that Air India has been facing losses in the past few years on account of a multitude of factors.”
The minister cited high interest cost, increase in competition, high airport user charges and adverse impact of exchange rate variation as the main reasons for the national carrier’s losses.