Air India Earns Profit for 1st Time

IAS Prelims 2023

Air India Express has turned profitable for the first time since it started operations in 2005.

As per the reports, the airline has made net profit of Rs 361.68 crore in the fiscal year 2015-16 against the loss of Rs 61 crore registered in the year 2014-15.

The airline has achieved total revenue of Rs 2,917.96 crore in the last fiscal against Rs 2,622 crore earned in the year 2014-15.

This year witnessed the launch of the Airline’s operations from New Delhi to Dubai and Abu Dhabi and strengthening of its presence in North Indian markets and additional flight operations from its core markets in South India.

Along with other factors, higher passenger load factor and better utilisation of its assets helped the airline achieve the positive financial result as the its fleet size remained at the same level of 17 aircraft as was the case in the previous fiscal.

The induction of three more aircraft by the end of third quarter will take the Airline’s fleet strength to 23 aircraft.

CEO of Air India Express: K Shyam Sundar