Air India accumulated losses rise to 77953 crore during FY2021 tata group buy airline – Business News India

The state-run airline company Air India Limited has once again incurred losses. According to the latest data, Air India incurred a loss of Rs 7,017 crore during the financial year 2020-21. However, compared to a year ago, this loss is slightly less. In the financial year 2019-20, Air India had reported a loss of Rs 7,766.

With this, the loss of Air India has increased to Rs 77,953 crore by the end of March 31, 2021. Till a year ago, the company was in loss of Rs 70,820 crore. According to company documents, the airline’s net liabilities exceeded its assets by Rs 58,316.68 crore. Air India has never made a net profit since its merger with Indian Airlines in 2007.

Cost reduction also: Compared to a year ago, Air India’s expenditure in the financial year 2020-21 stood at Rs 19,083 crore. Earlier in 2019-20, Rs 36,290.17 crore was spent. Let us tell you that last year flight services were limited due to Corona. This is the reason why Air India’s expenditure has also come down. At the same time, the company has also told the reason for the loss to Corona.

The big hurdle ended with the sale of Air India, why was this deal necessary for the Modi government?

Tata is making acquisitions: Let us tell you that the Tata group has won the Air India bid for Rs 18,000 crore. The disinvestment process of this airline is expected to be completed by December. With this, after about 68 years, Air India will once again come to the Tata group.