Only Paramount, IndiGo in Profit

March 12, 2010 - PRLog -- The Chennai-based Paramount Airways and the Delhi-based IndiGo Airlines were the only two among eight domestic airlines to report a profit during 2008-09, the Minister for Civil Aviation, Mr Praful Patel, informed Parliament on Thursday.

In a written statement to the Lok Sabha, the Minister said that while IndiGo posted a profit of Rs 8.21 crore, Paramount Airways recorded a profit of Rs 7.26 crore. Incidentally, for Paramount Airways, 2008-09 was the third straight year that it had reported a profit.

Air India reported the highest loss of Rs 5,548 crore, followed by Kingfisher Airlines (Rs 1,602 crore), JetLite (Rs 630.4 crore), Jet Airways (Rs 402.3 crore), SpiceJet (Rs 352.5 cr) and Go Airlines (Rs 22.5 crore).

The Minister told Parliament that the probable causes for scheduled domestic airlines incurring losses were the rise in fuel prices, economic downturn and comparatively low air fares due to a competitive environment.

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