According to the accounts placed and approved by the board of directors of Air India, the airline registered a net profit of Rs 262 crore in FY 2017-18. For the past five years the airline has been registering operating profits.
"The net profit earned in 2017-18 is particularly significant as the aviation sector had to face many challenges including high input costs, coupled with the sluggishness of Gulf economics where 90% of our capacities are deployed" said K Shyam Sundar, CEO, Air India Express (AIE). He added the unit costs also saw an increase in the past year with the steady increase in global fuel rates.
Revenues increased by 8.7%, recording a total revenue of R3648 crore, despite the adverse market conditions. This year also saw AIE expanding its services to markets in Madurai, Coimbatore and Vijayawada. With a fleet size of 24 Boeing 737 - 800 NG aircraft, the airline flies to 13 international and 18 Indian destinations.