Air India loses 430 crore on Pakistan air space closure

New Delhi: Air India suffered a loss of Rs 430 crore in the four-month period when air space was restricted by Pakistan after the Balakot air strikes, Civil Aviation Minister Hardeep Singh Puri informed the Rajya Sabha on Wednesday.

Replying to supplementaries during Question Hour, the minister said the government was committed to privatisation of the national carrier but is working on a turnaround plan for making it profit-making before it is privatised.

He said that 40 per cent of the operating expenses of the airline is on fuel and other geo-political factors and the closure of air space by Pakistan cost the airline dearly. Puri also expressed happiness over Pakistan opening its airspace yesterday after four months of closure following the air strikes by India on terror camps in Balakot.

"Air India has suffered a loss of Rs 430 crore in the last four months of air space being restricted by the neighbouring country. We are happy that the air space has opened now," he told the house.

In response to the privatisation plan, he said "the government has announced that it is committed to privatisation of the airline. But, in addition to this we have a turnaround plan to make the airline profitable."