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News18 » India
1-min read

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.

PTI

Updated:November 28, 2019, 11:29 PM IST
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High Fuel Costs, Forex Rate Variation Led to Rs 4,685 Crore Loss for Air India in FY19: Govt
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.

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