No bailout package under consideration for pvt airlines: Govt

Posted By: Pti
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New Delhi, Dec 1: Government Thursday said no proposal for any kind of bailout package for loss making private airlines was under its consideration.

"No such proposal is under consideration of the Ministry," Civil Aviation Minister Vyalar Ravi said in reply to a question in the Rajya Sabha.

He was asked whether government has any plans to announce any bail out package for loss making private airlines companies.

Replying to another question, Ravi said that several of leading airlines in the country were suffering losses.

In 2009-10, Kingfisher Airlines had accrued a loss of Rs 1239.3 crore while Jet Airways had suffered a loss of Rs 467.6 crore. Air India's loss was Rs 5552.44 crore during this period.

Private carrier Indigo, however, managed a profit of Rs 484.7 crores while Spicejet also made an earning of Rs 67 crore, as per details shared by the aviation minister.

Replying to another question, Ravi said that Air India owed a sum of Rs 1880. 40 crore to Indian Oil corporation and Rs 484.30 crore to Bharat Petroleum corporation Limited (BPCL) as on September 30, 2011. Air India also owed Hindustan Petroleum a sum of Rs 417 crore, he said.

Among private airlines Jet Airways owed Rs 695.90 crore as outstanding dues on September 30 to Indian Oil and Rs 153.24 crore to BPCL. Kingfisher's outstanding dues to Hindustan Petroleum Corporation Limited (HPCL) stood at Rs 636.79 crore as on September 30.

Ravi said that Ministry of Civil Aviation had hosted an International meeting of non EU ICAO (International Civil Aviation Organisation) council and other non EU member stated in which a joint declaration was adopted opposing the EU-ETS (Emission Trading Scheme).


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