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IA suffers loss of Rs 1.59 billion
After making profit for three successive years, Indian Airlines (IA) suffered a substantial loss of Rs 1.5917 billion during 2000-01.
After making profit for three successive years, Indian Airlines (IA) suffered a substantial loss of Rs 1.5917 billion during 2000-01.
The loss was attributed to an outgo of Rs 3.0 billion because of factors including increase in Aviation Turbine Fuel (ATF), deployment of sky marshals on sensitive routes, duty imposed on acquistion or leasing of aircraft, increase in premium payments and rise in exchange rate, the company said. Despite the general fall in seat load factor in the aviation industry after September 11 terrorist attacks in the US, the decline was not much pronounced in the IA. As against the combined seat load factor of 53.2 per cent in September in the three air carriers as against 57.3 per cent the previous month, IA recorded 56 per cent, said the company after the board meeting in New Delhi. Bureau Report
The loss was attributed to an outgo of Rs 3.0 billion because of factors including increase in Aviation Turbine Fuel (ATF), deployment of sky marshals on sensitive routes, duty imposed on acquistion or leasing of aircraft, increase in premium payments and rise in exchange rate, the company said. Despite the general fall in seat load factor in the aviation industry after September 11 terrorist attacks in the US, the decline was not much pronounced in the IA. As against the combined seat load factor of 53.2 per cent in September in the three air carriers as against 57.3 per cent the previous month, IA recorded 56 per cent, said the company after the board meeting in New Delhi. Bureau Report