Air India has received Rs 22,280 crore from the government under a turnaround plan launched in 2012 to improve the national carrier's financial performance.
According to the Ministry of Civil Aviation, Air India has made substantial improvements in its performance by cutting its net loss in the 2014-15 financial year.
The airline's operating loss was Rs 2,636.19 crore in 2014-15 compared with Rs 5,138 crore in 2011-12.
Equity of Rs 22,280 crore has been released to Air India till date under the ongoing financial restructuring plan, Minister of State for Civil Aviation Mahesh Sharma told the Rajya Sabha.
Air India's net loss was Rs 5,859.91 crore in 2014-15 compared with Rs 7,559.74 crore in 2011-12, a decline by 22.5 per cent.
Total revenue increased from Rs 14,713.81 crore in 2011-12 to Rs 20,606.27 crore in 2014-15.
The national carrier was offered a huge bailout package in 2012 after suffering years of losses due to high fuel costs, interest burden, rising competition and high operating expenditures.
BW Reporters
Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
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