Minister of State (Independent Charge) Civil Aviation Mahesh Sharma said, “The Operating loss has consistently reduced since merger and in 2014-15 the same stands at 2636.19 crore as compared to 5138.69 crore in 2011-12. As per 2014-15 the net loss is 5859.91 crore as against the loss of 7559.74 crore in 2011-12 that is a reduction by 22.5 percent.”
Sharma added that the company has turned Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) positive by 337.77 crore as against the negative EBIDTA of 2236.95 crore in 2011-12. The minister also stated that there has been a 40.1 per cent increase in total revenue of Air India. “Total revenue increased from 14713.81 crore in 2011-12 to 20606.27 crore in 2014-15 that is by 5892.46 crore that is by 40.1 per cent as compared to levels of 2011-12.”
Regarding improvement in operational performance of Air India, Sharma said, “The company has shown considerable improvements in the On Time Performance (OTP). The overall network OTP achieved during 2014-15 is 72.7 per cent compared to 68.2 per cent in 2011-12. The passenger load factor has improved to 73.7 per cent in 2014-15 from the passenger load factor of 67.9 per cent in 2011-12.
” “The network yield achieved is Rs 4.49/ revenue passenger kilometer (RPKM) in 2014-15 against Rs 3.74/ RPKM in 2011-12. The number of revenue pax has increased from 13.40 million in 2011-12 to 16.88 million in 2014-15,” added Sharma.
Meanwhile, giving details of the 11th Five Year Plan Outlay for Air India, the minister stated: “The 11th Five Year Plan Outlay (2007-2012) for Air India Ltd was approved at 32730.71 crore. Out of this amount, the actual expenditure up to the of Financial Year 2011-12 is 23963.36 crore that is 73.21 per cent of the total outlay.”
Giving details of the expenditure done during this period, he said that, the expenditure during the 11th Plan Period was by and large as per the targets set for the 11th Plan. However, shortfall in expenditure was primarily due to deferment in delivery of three B 777-3000 ER aircraft and delay in induction of twenty B-787-8 aircraft due to production to have been acquired in the 11th Plan period, only 62 aircraft were actually acquired by the company.
Due to the production delays of B-787-8 aircraft by M/s Boeing, the induction of this aircraft into Air India’s fleet was delayed and the delivery for these aircraft had actually commenced during the 12th Plan Period from September 2012.
Regarding the amount of money Air India has received as equity infusion from union government, Sharma said that for 2009-10 it was 800 crore, in 2010-11 it was 1200 crore and in 2011-12 also the amount was 1200 crore. The total amount Air India received as equity infusion from the government from 2009-2012 is 3200 crores, he said.
Giving details regarding the improvement in economic condition of Air India, Sharma said, “In view of the losses suffered by Air India upto 2010-11 and its mounting debt burden, the cabinet committee of economic affairs (CCEA) in its meeting held on 12th April 2012 approved a Turnaround Plan (TAP)/ Financial restricting Plan (FRP) for operational and financial turnaround of Air India.
“The TAP/FRP provides equity infusion by the government of 30231 crore upto 2021 subject to achievement of certain financial and operational parameters as laid down in the TAP/FRP.”