Indian Airlines is likely to suffer a loss of Rs 98.90 crore (Rs 989 million) in 2002-2003 due to increase in the price of aviation turbine fuel and hike in insurance premium, landing and navigational charges and levy of customs duty.
Minister of State for Civil Aviation Shripad Yesso Naik, in a written reply in the Lok Sabha today, said it had been budgeted that Air-India will make a profit of Rs 24.50 crore (Rs 245 million) in 2002-2003.
In a bid to cut down on expenditure, Indian Airlines has imposed a freeze on recruitment, reduction in overtime payment and fuel tankering. Air-India has abolished vacant posts, lowered the retirement age and downsized or closed foreign offices as part of austerity measures.
Lease: Indian Airlines is inducting five A320 at a lease rent of $140,000 a month per aircraft to augment capacity. At present it has two A300s on a lease rental of 105,000 dollars, six A320 ON $244,000 and four ATR turboprops on $67,500.
The lease rentals that Air-India is paying are: $281,000 for two A310, $250,000 for two A310, 235,000 dollars for one A310, $230,000 for one A310, $220,000 for two A310 and $510,000 for one Boeing 747-400.
Outstanding: Jet Airways owes Rs 31.39 crore (Rs 313.9 million) to Airports Authority of India while has outstanding dues of Rs 7.36 crore (Rs 73.6 million), Naik told the house. Besides, Jet Airways also has to give Rs 20.11 crore (Rs 201.1 million) to Air- India.
Naik said AAI has filed legal suits in various courts to recover the dues.
UNI