Air India, AAI suffered losses worth Rs 7,083 cr in FY2020-21, says Aviation Ministry

Minister of State (MoS) for Civil Aviation Ministry General (Dr.) VK Singh (Retired) told the Rajya Sabha that national carrier Air India and the Airports Authority of India (AAI) suffered losses worth Rs 7,083.91 crore during FY2020-21 during the coronavirus pandemic. General Singh further noted that a separate assessment for losses on account of suspension of international flights has not been undertaken yet.
 
Borrowers from aviation sector have availed guarantee support under the Emergency Credit Line Guarantee Scheme (ECLGS), as per the information received from the National Credit Guarantee Trustee Company Limited (NCGTC). Finance Minister Nirmala Sitharaman announced the extension of ECLGS up to March 2023.
 
She also said in her Budget speech that the guarantee cover under ECLGS to be expanded by Rs 50,000 crore to total cover of Rs 5 lakh crore. “As per the information received from National Credit Guarantee Trustee Company Limited (NCGTC), borrowers from aviation sector have availed guarantee support under the Emergency Credit Line Guarantee Scheme (ECLGS) which has been extended up to March 2023.”
 
Meanwhile, the Directorate General of Civil Aviation (DGCA) extended the suspension of scheduled international commercial passenger flights to and from India till 11:59 hours on February 28. These restrictions will not apply on international all-cargo operations and flights operating under the air bubble arrangement.

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