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Air India has reported an operational loss of Rs 246.14 crore in the three months ended June 2016. The airline had turned operationally profitable in the previous fiscal.
The operating loss in the first quarter of this fiscal has come down from Rs 315.37 crore in the year-ago period. “The target fixed by Air India for operating profit for the first quarter of 2016-17 was Rs 87.28 crore against which the company has posted an operating loss of Rs 246.14 crore in the first quarter of 2016-17,” Minister of State for Civil Aviation Jayant Sinha said in a written reply to the Lok Sabha.
The minister said the main reason for the operating loss was “the decline in revenue yields by around 6 per cent over the budgeted target resulting in decline in passenger revenue.”