National carrier Air India will operate flights on new routes as and when an opportunity arrives, the government said Saturday.
\n\u201cWe will take a decision on the new routes when the opportunity comes,\u201d Civil Aviation Minister Vayalar Ravi told reporters on the sidelines of an industry event here. The action on the airline\u2019s turnaround and financial restructure plan would be taken after the sub-committee formed to review the plans, submits its report to the group of ministers (GoM) headed by Finance Minister Pranab Mukherjee, according to Ravi.<\/p>\n
The GoM would meet in mid-september, he said.
\nRecently the GoM extended the airline\u2019s credit limit to buy oil from the state-run oil marketing companies (OMCs) by two to three months.
\n\u201cNow instead of cash and carry, Air India has been given two to three months credit extension by OMCs,\u201d Ravi had told reporters after a meeting here of the GoM.
\nRavi had added that the assurance for extending the credit limit to buy jet fuel from the OMCs was given by Petroleum Minister S. Jaipal Reddy.<\/p>\n
The state-run OMCs had put the flag carrier on a cash and carry basis – which basically means that the airline was required to pay whenever it bought fuel from these companies.
\nCurrently, the airline owes `2,300 crore to the OMCs. It buys `17 crore of fuel daily from them.
\nThe company\u2019s inability to pay the dues and rising jet fuel prices had forced OMCs to cut fuel supply to the airline in May end, forcing Air India and its low-cost international subsidiary Air India Express to cancel 147 flights from May 27 to June 2.<\/p>\n
The company incurred losses worth `10 crore at that time.
\nCurrently Air India\u2019s cumulative losses amount to `22,165 crore, apart from a `22,000 crore debt-burden to buy new aircraft. <\/p>\n
\nFor More Updates, follow us on National carrier Air India will operate flights on new routes as and when an opportunity arrives, the government said Saturday. \u201cWe will take a decision on the new routes when the opportunity comes,\u201d Civil Aviation Minister Vayalar Ravi told reporters on the sidelines of an industry event here. The action on the airline\u2019s turnaround and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14349","post","type-post","status-publish","format-standard"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/14349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=14349"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/14349\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=14349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=14349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=14349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Facebook\"](\"http:\/\/cms.nagalandpost.com\/newsimages\/PhotosCollection\/BKDWMJOIYQWKXUNDBKXF.png\")
<\/a> and ![\"Twitter\"](\"http:\/\/cms.nagalandpost.com\/newsimages\/PhotosCollection\/TWASKRLZSYMZWPFZERZS.png\")
<\/a><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"