Air India Board reviews carrier's financial performance

Air India Board today discussed the national carrier's budget for the next fiscal, besides reviewing its current financial performance at a meeting here.
The state-run carrier, which is to receive Rs 30,000 crore equity from the government for 10 years, starting April 2012, as a part of its Turnaround Plan (TAP)and Financial Restructuring Plan, has been allocated Rs 2,500 crore funds for the next fiscal.
"Air India Board discussed the budget for the next fiscal. The airline's financial projections for FY 16 look quite promising," an official source said.
The carrier has made substantial improvement in the financial projections for the current fiscal, the source said adding, "certain parameters envisaged in the Turnaround Plan and Financial Restructuring Plan could not be achieved due to the capacity constraints."

The sources, however, did not divulge any number from these projections.
Airline's on-time performance, which has taken a severe beating in the recent past and which is being monitored by the government on a daily-basis was also reviewed at the meeting, the sources said.
Last month, the carrier has delivered around 75-80 per cent OTP both on the domestic and international routes, and it has seen told to improve it further, they said.