Air India pares losses; no plans to privatise

[NEW DELHI] State-run carrier Air India has pared its losses thanks to a better all-round performance, but the new right-wing government has no plans to privatise the flagship airline, a statement said.

Air India, once the country's monopoly airline, now holds just 20 per cent of the passenger market as once-loyal travellers fly nimbler private-sector rivals in the midst of cut-throat price wars.

Air India's net loss narrowed to 53.8 billion rupees (S$1.11 billion) in the financial year to March 31, from a loss of 54.9 billion rupees a year earlier, junior civil aviation minister GM Siddeswara told parliament in a statement late on Tuesday.