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IA puts net loss at Rs 251-cr in 2001-02
Our Corporate Bureau
New Delhi, March 15: Indian Airlines (IA) has estimated a net loss at Rs 251.5 crore for the year 2001-2002 due to stiff increase in fuel and other input costs. The company is expected to end with a loss of Rs 177 crore for the financial year ending March 31, 2001. The company is targeting a revenue of Rs 3,922 crore during 2001-2002 as against revised budget estimates of Rs 3,758 crore for the current year. IA is also budgeting an increase of the load factor at 67.6 per cent in 2001-2002, as against estimates of 65.7 per cent for the current year, resulting in an increase of three per cent. The company's board approved a host of proposals, including a senior management restructuring plan here on Thursday, says a release. A proposal to abolish the five posts of directors in the areas of projects, civil engineering, medical, APU and short haul operations was approved. The board also endorsed the management's proposal for reorganisation of functions in different departments, at the level of general managers toreduce the total number by six. Indian Airlines plans to induct further capacity by leasing two Airbus A320 aircraft in the winter schedule of 2001. During the period April 2000 to January 2001, the airline exceeded all important budget estimate targets. For example capacity produced at kms budgeted was 951.7 million, and achieved 962.7 million, overall load factor budgeted was 64.7 per cent, and achieved was 67.1 per cent; passenger load factor budgeted was 64.7 per cent and achieved 65.1 per cent; total revenue budgeted was Rs 3,097 crore and achieved Rs 3,135 crore. The number of passengers expected to be carried by the airline are estimated at 6.127 million passengers during 2001-2002, as against estimates of 6.007 million passengers during the current year. Meantime PTI ads that the Indian Airlines on Thursday decided to abolish five posts of directors as part of an exercise to downsize its senior management and said it would lease-in two Airbus A-320 for capacity enhancement. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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