Air India : A Pride ?

The Parliamentary Standing Committee on Transport, Tourism and Culture , says :

“ The government should review its decision to privatize or disinvest Air India and explore the possibility of an alternative to disinvestment of our national carrier which is our national pride “

[   Source : Don't privatise Air India, give it 5 years to revive: Parliamentary panel 

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/dont-privatise-air-india-give-it-5-years-to-revive-parliamentary-panel/articleshow/62400999.cms  ]

And how much would it cost poor Indians to preserve this “ pride “ ? ( - none of who have even seen an Air India plane from inside ) ?

According to CAPA [ Centre for Asia Pacific Aviation ] , a cool Rs 16,000 – Rs 19,000 crore !

According to CAPA , the parliamentary panel’s recommendations , if implemented , will further erode value requiring the need to inject additional $ 2.5 – 3.0 Billion in funding over that period

Now remember , that would be on top of approx. Rs49,000 crores of loans that the MAHARAJA has raked up over the decades  !

Fortunately , recommendations of the Standing Committee are not binding on the government

In July , Minister of State , Jayant Sinha said :

"Air India is facing financial pressure and earning less profit due to high debt burden as an offshoot of past accumulated losses. The debt servicing is at around Rs 6,000 crore per annum. 

Citing provisional figures, Sinha said Air India's total debt stood at Rs 48,876.81 crore at the end of March 2017. 

I wonder if the Parliamentary Committee had anything to say about the following :

TAXPAYERS MONEY GIVEN TO AIR INDIA :

·         2014-15……………………………. Rs  5,780  Cr

·         2015-16……………………………  Rs  3,300  Cr

·         2016-17……………………………. Rs  2,465  Cr

·         2017-18……………………………  Rs  1,800  Cr

LOSSES  INCURRED  :

·         2012-13…………………………..  Rs  5,490  Cr

·         2013-14……………………………  Rs  6,279  Cr

·         2014-15…………………………..  Rs  5,860  Cr

·         2015-16…………………………..  Rs  2,636  Cr

·         2016-17……………………………  Rs  3,643  Cr

Despite Air India being a patient suffering from a “ Terminal Illness “ and being kept alive on a “ Life Support System “ ( aka “ Tax Payers sweat and blood  “ ) , why is there this morbid obsession to keep it alive in a vegetative state ?

  

I sent following suggestion to the Minister :

Findinga Bakra ? Possible ? [  04  June  2017  ]

https://myblogepage.blogspot.com/2017/06/finding-bakra-possible.html

09  Jan  2018

www.hemenparekh.in / blogs