NEW DELHI (PTI): Air India recordedanetprofitofRs3.33 billion in 199293, ranking sixth among. 150 of the world airlines in terms of profit generation in this year.
Federal minister for civil aviation and tourism Gulam Nabi Azad while addressing a parliamentary consultative committee attached to his ministry recently said in 199394 also, Air India earned a substantial profit of Rs 2.1 billion while the air transport industry continued to suffer losses all over the world.
He added that the first four months of the current financial year, namely April to July, a net profit of Rs 300 million has already been generated by Air India and substantial higher profits are expected in Air India operations by the end of the year.
As regards the current performance and future plans of Air India, the minister informed the committee that whereas four Bocing747400 aircraft have already joined Air India, two more such aircraft are expected to be added to the fleet by 1996. Keeping pace with the modernization program, a new 747 hanger is being built atacostofRs500million and is expected to be operational by 1996.
Article extracted from this publication >> September 23, 1994
