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expenditure is in dollars. “Since 2011, we have lost around Rs 250 crore a year on the account of rupee depreciation, while the rise in the ATF costs has affected us by another Rs 350-400 crore during the last two years,” the official said.
“This left us with no options but to ask the government to re-evaluate the TAP,” he added.
Air India currently has over Rs 39,000 crore debt. This includes long-term loans of Rs 17,000 crore, short-term working capital loans of Rs 4,000 crore and aircraft-related debt of Rs 18,000 crore.