Air India Ltd wants to cut its operating expenses by some 40% in the next fiscal year even as the state-owned airline prepares to post an operating loss of Rs.2,100 crore and a net loss of Rs.3,900 crore in the year to 31 March.
The national flag carrier expects operating losses to reduce by 42.85% to Rs.1,200 crore in 2014-15 based on higher projections for passenger and cargo revenues, according to its own estimates.
“The next financial year is going to be critical for us. Strict cost-control measures and revenue enhancement efforts are likely to result in at least Rs.1,200 crore reduction in our operating losses,” an Air India executive said, requesting anonymity.
Full report here Mint