You are here: Home » Reuters » News
Business Standard

Air India to cut costs by $227 mln to reduce losses

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - State-owned carrier Air India is to cut its costs by 14 billion rupees ($227 million), or about 6 percent of its total outlays, in the next financial year after the government asked the loss-making airline to improve its finances.Air India, which controls close to a fifth of India's domestic air travel market, has been losing money for years and has long been criticised for its high costs. In 2012, the government handed the company a $5.8 billion bailout package. The airline said in a statement late on Sunday that it would identify "surplus staff", freeze contractual ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, January 19 2015. 10:59 IST
RECOMMENDED FOR YOU