Air India will announce provisional results for FY2003-4 showing profits of INR 1.05 billion (USD 24 million).
The results were announced in a statement to Parliament on Friday by Minister of State for Civil Aviation Praful Patel.
The earnings this year show a drop of INR 0.28 billion (USD 6 million) from last years profits of INR 1.33 billion (USD 30 million). The drop has been attributed to flight reductions due to SARS, a strike by pilots, increased insurance risk for Middle East operations and higher prices for aviation fuel.
[Edited 2004-07-16 20:40:52]