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  • Air India , subsidiaries owe Rs 2,310 Cr to oil marketing companies: Govt

    Published on November 23, 2011

    Civil Aviation minister Vayalar Ravi on Wednesday said Air India and its subsidiaries owe 2,310 crore rupees to the oil marketing companies. In a written reply to the Lok Sabha, Mr Ravi said till the end of the first fortnight of September, Air India has a total due of over 2,310 crore rupees of which the cash strapped national carrier owes over 1563 crore rupees to Indian oil Corporation.

    He said that in order to help the national carrier, a Group of Ministers last month agreed to grant a credit period of three months as sought by airlines management.

    In reply to a separate question, the Minister said Air India has withdrawn its services from 14 routes, which were not profitable.

    The Minister also informed the House that due to pilots’ strike from April 27 to May 7, Air India has suffered a revenue loss of 200 crore rupees.

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