New Delhi, July 27 (IANS) The government on Monday reported that the national passenger carrier Air India’s net loss has come down by over 26 percent since the implementation of turnaround plan (TAP) during 2011-12.
Minister of State for Civil Aviation Mahesh Sharma informed the Lok Sabha that the net loss of the company during 2014-15 stood at Rs.5,547.40 crore down from Rs.7,559.74 crore in 2011-12.
“The company has achieved the targets set out in the TAP and has made substantial progress in both operational as well as financial areas,” the minister said in a written reply.
According to the minister, the operating losses reduced to Rs.2,171.40 crore in 2014-15 from Rs.5,138.69 crore in 2011-12.
“The company has turned EBIDTA (earnings before interest, tax, depreciation and amortisation) positive by Rs.541.60 crore as against the negative EBIDTA of Rs.2,236.95 crore in 2010-11,” the minister said.
The minister added that the total revenue of the airline increased by 33.25 percent to Rs.4,026.31 crore as compared to levels of 2011-12.
“The total revenue during 2014-15 is Rs.19,718 crore as against Rs.14,713.81 crore in 2011-12,” the minister added.
The passenger oad factor which is a key indicator of the airlines performance improved to 73.1 percent in 2014-15 from 67.9 percent in 2011-12.