Air India’s operational loss in the June quarter narrowed to Rs246.14 crore from RS315.37 crore a year earlier. The airline had set a target of Rs87.28 crore operating profit in the first quarter. The Centre attributed the operating loss to a drop in “revenue yields by around 6% over the budgeted target resulting in a decline in passenger revenue”.
As part of the turnaround plan,  minister of state for civil aviation Jayant Sinha said that till date, Rs23,933 crore has been released as equity support to Air India. Various steps such as rationalisation of certain loss making routes, closure of overseas offline offices at certain locations and phasing out of old fleet and consequential reduction in maintenance costs have been initiated to reduce the airline’s losses.

Air India:

Air India is the flag carrier airline of India and the third-largest airline in India in terms of passengers carried, after IndiGo and Jet Airways. It is owned by Air India Limited, a Government of India enterprise, and operates a fleet of Airbus and Boeing aircraft serving 85 domestic and international destinations.

It is headquartered in New Delhi. Air India has its main hub at Indira Gandhi International Airport, New Delhi and a secondary hub at Chhatrapati Shivaji International Airport, Mumbai. Air India became the 27th member of Star Alliance on 11 July 2014.