[New Delhi] Govt Of India Is Not In A Mood To Privatize National Carrier Air India ,Ministry of Civil Aviation Informed This Intention In Rajya Sabha Today.
The Minister of State for Civil Aviation, G.M. Siddeswara informed the Rajya Sabha today that no proposal to privatise Air India is under consideration with the Government at present. While giving the details of the losses and the equity for Air India infused by the Government in the last three years, the Minister described the main reasons of the losses suffered by the national carrier as
[1] high operating cost environment,
[2] increase in the prices of aircraft fuel
,[3] depreciation of Indian Rupee vis a vis US dollar,
[4]increase in interest cost due to high working capital
[5]aircraft loans
,[6] global recession leading to pressure on yields
,[7] entry of low cost carriers in domestic market
[8] competition from foreign carriers in the international market, thus resulting in decline in yields and high airport charges
.
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