TIL Desk/Business/New Delhi/ Air India posted an operating loss of around Rs 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials.
Reflecting tough business conditions, the airline’s net loss stood at about Rs 8,400 crore while total revenues touched around Rs 26,400 crore in 2018-19, one of the senior officials told.
Another senior official said the airline is projected to post an operating profit of Rs 700 to 800 crore in 2019-20, provided oil prices do not shoot up significantly and there is no steep fluctuation in foreign exchange rates.
However, the airline incurred an
operating loss of Rs 175 to 200 crore in the three months ended June as closure
of Pakistan airspace for Indian carriers resulted in higher costs and caused a
daily loss of Rs 3 to 4 crore when the restrictions were in place, the official
said.
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