The government on Monday reported that the national passenger carrier Air India's net loss has come down by over 26 percent since the implementation of turnaround plan (TAP) during 2011-12.
Minister of State for Civil Aviation Mahesh Sharma informed the Lok Sabha that the net loss of the company during 2014-15 stood at Rs.5,547.40 crore down from Rs.7,559.74 crore in 2011-12.
"The company has achieved the targets set out in the TAP and has made substantial progress in both operational as well as financial areas," the minister said in a written reply.
According to the minister, the operating losses reduced to Rs.2,171.40 crore in 2014-15 from Rs.5,138.69 crore in 2011-12.
"The company has turned EBIDTA (earnings before interest, tax, depreciation and amortisation) positive by Rs.541.60 crore as against the negative EBIDTA of Rs.2,236.95 crore in 2010-11," the minister said.
The minister added that the total revenue of the airline increased by 33.25 percent to Rs.4,026.31 crore as compared to levels of 2011-12.
"The total revenue during 2014-15 is Rs.19,718 crore as against Rs.14,713.81 crore in 2011-12," the minister added.
The passenger oad factor which is a key indicator of the airlines performance improved to 73.1 percent in 2014-15 from 67.9 percent in 2011-12.