Air India takes a hit again; records Rs. 7,017.42 cr loss

Continuing to cope with the impacts of COVID-19 pandemic during the financial year 2020-21 that led to travel restrictions and flight bans, Air India Ltd incurred a loss of Rs 7,017.42 crore in the current fiscal. Nonetheless, the airline managed to improve on the loss of Rs 7,765.73 crore reported during the previous fiscal. The decline in losses during 2020-21 as compared to the previous year could be attributed to the reduction in the airline's expenses to Rs. 19,083.33 crore in 2020-21 from Rs. 36,290.17 crore in 2019-20 with the airline's operations remaining limited during the pandemic. Recently, Tata Group had won the bid to take back the reins of state-owned Air India after 67 years.

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