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IA net profit at Rs 1.9 cr in Jan

Ashwini Phadnis

NEW DELHI, March 2

INDIAN Airlines (IA) has reported a net profit of Rs 1.90 crore against a budgeted net profit of Rs 17.41 crore during January this year and an operating profit of Rs 14.30 crore this year as against a budgeted operating profit of Rs 28.88 crore during t he same period.

However, despite recording a net profit in January, IA has recorded a cumulative operating loss of Rs 48 crore during the period April-January 2001, as against a budgeted operating profit of Rs 157.09 crore. Similarly, the airlines has recorded a cumulat ive net loss of Rs 145.50 crore against a budgeted net profit of Rs 34.67 crore.

The airlines' operating revenues and operating expenses during January were higher than what had been budgeted. While IA had budgeted to earn an operating revenue of Rs 335.66 crore it achieved an operating revenue of Rs 340 crore. Similarly, its operat ing expenses were at Rs 325.70 crore against a budgeted figure of Rs 306.78 crore in January.

During the month, IA's yield per passenger in rupee terms was higher at Rs 4,850.27 as against a budgeted figure of Rs 4,707.75.

It carried 5,61,000 passengers as against a budgeted 5,55,000 passengers.

There is some cheer for IA as during April-January, 2001 it carried 4.97 million, which is higher than what it carried during the 1999-2000 at 4.96 million.

IA's passenger load factors also improved and touched 71.9 per cent against the budgeted 66.7 per cent during January 2001 which was higher than the level of 66.1 per cent achieved during 1999-2000.

The airline was also more successful than what it had budgeted for in cutting down its staff strength. It touched 20,646 in January this year against a targeted staff strength level of 21,390.

Officials have expressed confidence that the overall financial performance of the airline for the year will be better, largely due to increased passenger loads carried by the airline during the past few months.