As per provisional figures for 2016-17, the airline is projected to see an operating profit of Rs 300 crore and net loss after tax of Rs 3,643 crore.
So they pay 3900 crore in taxes and need a bailout of 3600 crore? Does not seem that bad a situation to meSo, in reality, it made a loss of 3,643 crores. But headlines are screaming profits! profits!! AIRINIDIA IN PROFITS!! HAR HAR MODI! media can go f itself
headlines are different and ground reality is different. people should ask if providing bailouts of thousands of crores every few years to a company making losses of thousands of crores is ethical for govt
Since April of 2012 till now, the exchequer has provided a whopping Rs 22,280 crore equity support to Air India, as per a written reply in the Rajya Sabha by MoS Civil Aviation Mahesh Sharma. That is well over 70% of the promised support that turnaround plan (TAP) envisaged over a 10-year period since total promised money for Air India's turnaround is Rs 30,000 crore.