Indian Aviation - Major policy changes.
Indian Airlines have a paid-up capital of Rs. 105.19 crores . The company has a fleet of 56 aircraft and along with its subsidiary - Alliance Air - operate in 57 domestic and 17 international destinations. The Government had last year approved a fresh equity injection of Rs.325 crores into the airlines, besides allowing it to mobilise funds from the capital market through an initial public offering. The airline had turned the corner in the past two years posting marginal profits. As per the revised estimates for 1999-2000, IA expects to end the year with an operating profit of Rs. 219.75 crores and a net profit before tax of Rs. 39.25 crores, as against operating profit of Rs. 294.23 crores and a net profit after tax of Rs. 13.1 crores for the year ending March 31, 1999.
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