Air India's losses diminish 60%
By Madeeha Mujawar September 7, 2024, 8:42:09 PM IST (Updated)
Tata Group-owned Air India which was privatised in 2022 has actually seen losses boil down by 60%. The airline company's loss in FY24 boiled down to 4,444.10 crore as compared to 11,387 crore over the previous year, according to the Tata Sons yearly report for 2023-24.
Air India's turnover increased 23.69% to 38,812 crores throughout the reporting as versus a turnover of 31,377 crore, the report mentioned. The Tata Group is combining its air travel company combining AirAsia India (AIX Connect) and Air India Express and Vistara with Air India.
Check Out: Vistara to fly till November 11; combined Air India operations start afterwards
Air India published its greatest combined yearly operating incomes of 51,365 crore, up 24.5% over FY23 driven by development in capability to 1,059 million offered seat kilometre, which was 21% greater over the previous year.
Air India's guest load element increased to 85% in FY24 versus 82% in FY23, according to the yearly report. The airline company flew over 40 million travelers on 800 everyday flights, consisting of 55 domestic and 44 worldwide locations, the report stated.
The Air India-Vistara merger is almost total and Vistara will run its last flight on November 11 and combine all its operations with Air India from November onwards. Air India Express Chief Aloke Singh on Friday in an internal interaction revealed that AIX Connect's operations will be combined with it from October 1.
Check Out: Air India reveals brand-new check-in due date for global flights from Delhi. Information here
Sept 7, 2024 7:43 PM
IST
