Friday, May 24, 2013

Air India spent Rs 1,803 crore on pending staff salaries last year

New Delhi: Air India spent over 85 per cent of its Rs 6,000 crore equity infusion last year on clearing pending staff salaries, paying off aircraft loans and interest and its debt to oil companies and airport operators.
Of the Rs 6,000 crore received in 2012-13, the airline spent Rs 1,803 crore on pending staff salaries, paid off Rs 1,253 crore as jet fuel dues to oil marketing companies and Rs 1,100 crore as loan and interest payments for aircraft acquired, official data showed.
The airport operators were paid Rs 976 crore, service tax department Rs 510 crore and Rs 286 crore was spent on aircraft spares. Another Rs 72 crore was paid to IATA travel agents due to flight cancellations during the pilots' strike and on other heads.
Regarding equity infusion in Air India, the government had committed to provide Rs 30,231 crore between 2011-12 and 2020-21 as per the Financial Restructuring Plan (FRP).
24/05/13 PTI/Indian Express
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