High Fuel Costs, Forex Rate Variation Led to Rs 4,685 Crore Loss for Air India in FY19: Govt
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, Civil Aviation Minister Hardeep Singh Puri said.
For Representation. (Image: Twitter)
New Delhi: 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 on Thursday.
"Aviation Turbine Fuel (ATF) 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 per cent 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.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Inside Edge 2 Review: The Game Gets Murkier and More Thrilling
- Bigg Boss 13: Sidharth Shukla Down With Typhoid, Undergoing Treatment
- YouTube Rewind 2019 Seems to Have Outdone Itself in Being Bad, 'Lazy, and Low Budget'
- India vs West Indies | Our Responsibility is to Support Rishabh Pant: Virat Kohli
- 'Black Friday': Italian Newspaper Sparks Race Row With Front Page Headline on Lukaku, Smalling Clash