Air India lost Rs 4,685 crore in FY 19 due to high fuel rates, forex rate variation

Civil Aviation Minister Hardeep Singh Puri said that Air India suffered a loss of Rs 4,685 crore in 2018-19 due to two major reasons that were: increase in fuel costs and impact of foreign exchange rate variation. The variation in exchange rate led to an increase in expenses from Rs 31 crore in 2017-18 to Rs 772 crore in 2018-19 while Aviation Turbine Fuel costs increased from Rs 7,363 crore in 2017-18 to Rs 10,034 crore in 2018-19.