Question:

Financial crisis of Air India.

by Guest120 | 12 years, 8 month(s) ago

After the year 2000 Air India was facing lot of financial problems. Can someone tell me that how much loss did Air India face during 2005 to 2007 before its merger.

Tags: air, crisis, Financial, India

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Guest9828

Around 2006–2007, the airlines began showing signs of financial distress. The combined losses for Air India and Indian in 2006-07 were 770crores (7.7 billion). After the merger of the airlines, this went up to 7,200crores (72 billion) by March 2009. This was followed by restructuring plans which are still in progress. In July 2009, SBI Capital Markets Ltd was appointed to prepare a road map for the recovery of the airline. The carrier sold three Airbus A300 and one Boeing 747-300M in March 2009 for $18.75 million to survive the financial crunch.
Air India's corporate headquarters is located at the Air India Building at Nariman Point in South Mumbai. The airline moved there in 1970. The Air India Building also serves as a regional office for Indian.
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