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Air India running in huge losses: Indian Audit Report

Air India running in huge losses: Indian Audit Report

Apex auditor CAG on Friday said Air India “actually incurred” an operating loss of Rs 321.4 crore last fiscal instead of an operating profit as reported by the airline.

While making it clear that there was no fudging of numbers, officials at the Comptroller and Auditor General (CAG) said figures reported by the airline are “actually under-reporting of loss”.

Air India, which is staying afloat on taxpayers’ money, reported an operational profit of Rs 105 crore in 2015-16 –its first in more than a decade.

“For 2015-16 where Air India has reported an operating profit of approximately Rs 105 crore, the audit of Air India’s standalone accounts for 2015-16 has been completed,” Deputy CAG Pradeep Rao said.