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CAG raps Air India for understating losses

CAG raps Air India for understating losses

Saturday, March 11, 2017, 2:10 PM

Air India lost money on the sale of five planes, understated its losses, was short-changed in a plane deal and could not meet most performance targets set for winning about Rs.42,000 crore in a government equity infusion, government auditor Comptroller and Auditor General of India (CAG) said in a stinging report on Friday. Air India “significantly” understated its losses during the period under audit.
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