×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Airlines in India suffer Rs4,000 crore loss in 2007-08

Airlines in India suffer Rs4,000 crore loss in 2007-08
Comment E-mail Print Share
First Published: Wed, Jun 04 2008. 04 45 PM IST
Updated: Wed, Jun 04 2008. 04 45 PM IST
PTI
New Delhi: Airlines in India have suffered a staggering loss of Rs4,000 crore in 2007-08, and it could double in the current fiscal depending on which way fuel prices are headed, Civil Aviation secretary Ashok Chawla said.
“Oil prices are at all-time high and airline operators are finding it difficult to make both ends meets. In fact there are substantial losses being reported by the airlines in India,” he told reporters after a meeting with airlines operators here.
“We have asked them for some more specific details which could be prepared as representation and would be submitted by the Civil Aviation Minister (Praful Patel) to the Prime Minister (Manmohan Singh) and the Finance Minister (P Chidambaram,” he said.
Chawla said the Ministry would tell the Prime Minister and the Finance Minister the difficulties being faced and what could be the ways and means through which the government could provide relief to this key sector.
“The airlines have also assured that they will do everything possible to cut the cost and ensure that the burden to the passengers is kept to the minimum,” he said.
Patel had said on Monday that the Ministry was “very concerned and unhappy”, as rise in aviation turbine fuel (ATF) prices was playing havoc with the financial health of airlines.
“We will have to seek relief and take whatever remedial measures possible,” he said.
Comment E-mail Print Share
First Published: Wed, Jun 04 2008. 04 45 PM IST
More Topics: Airlines | Praful Patel | ATF | Civil aviation | Loss |