Under the turnaround plan, Air India is projected to see an operating profit of Rs1,086 crore in 2016-17. Photo: Ramesh Pathania/MintNew Delhi: Air India, which turned operationally profitable last fiscal, reported an operational loss of Rs246.14 crore in the three months ended June 2016. “The target fixed by Air India for operating profit for the first quarter of 2016-17 was Rs87.28 crore against which the company has posted an operating loss of Rs246.14 crore in the first quarter of 2016-17,” he said in a written reply to the Lok Sabha. For the first time in nearly a decade, Air India reported an operating profit of Rs105 crore in the last fiscal. As part of the turnaround plan, the minister said that till date, Rs23,933 crore has been released as equity support to Air India.

Source: Mint November 17, 2016 10:25 UTC