High Fuel Costs, Foreign Exchange Rate Led To Rs 4,685 Crore Loss For Air India In FY19
Increase in fuel costs and impact of foreign exchange rate variation were two major reasons for Air India's operating loss of Rs 4,685 crore in 2018-19, Civil Aviation Minister Hardeep Singh Puri said.
"Aviation Turbine Fuel costs increased from Rs 7,363 crore in 2017-18 to Rs 10,034 crore in 2018-19 i.e. an increase of almost 28.9 percent in fuel rates over the previous year," Puri said in a written reply to a question in Lok Sabha.
"The impact of exchange rate variation led to an increase in expenses from Rs 31 crore in 2017-18 to Rs 772 crore in 2018-19," he added.