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December 24, 2019 – Bangalore Aviation

Daily Archives: December 24, 2019

Air India wants 2400 crores more, the bleeding continues

December 24, 2019 Comments Off on Air India wants 2400 crores more, the bleeding continues

Air India Boeing 747-400 VT-ESP Ajanta. Image copyright Devesh Agarwal.

After a loss of 8,556 crores in FY19, the Chairman and Managing Director (CMD) of Air India has indicated that the airline needs a sovereign guarantee of 2400 crores to fund ongoing operations. The airline continues to bleed cash at an alarming rate. Capacity woes continue and estimates indicate that twenty-two aircraft are grounded. On the costs side, there have …

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