Companies

Air India Express posts highest-ever net profit of ₹413 crore

Our Bureau Kochi | Updated on October 28, 2020

Air India Express has reported its highest-ever net profit of ₹412.77 crore in FY20. The airline, which started commercial operations in April 2005, has been reporting a profit continuously for the last five years. In FY19, its profit was ₹169 crore.

“Efficient utilisation of assets in terms of aircraft, manpower and materials and enhanced operational efficiency in key areas have significantly contributed to the record profits,” K Shyam Sundar, CEO, Air India Express said.

Despite the adverse market conditions due to Covid-19 during the last quarter of the fiscal, the Airline’s operating revenues grew by over 25 per cent from ₹4,172 crore in FY19 to ₹5,219 crore in FY20.

Passenger numbers

The increase in the number of passengers flown by AIE in this period is testimony to the fact that the airline remains the most preferred brand in its core markets. The number of passengers flown increased by 11 per cent to reach 4.84 million from 4.36 million in 2018-19. About 4.66 million passengers travelled on the international sectors, taking the airline’s share of traffic to/from India from 6.5 per cent in FY19 to 7.1 per cent.

The year also witnessed a 6 per cent increase in capacity offered and 5 per cent growth in passenger load factor.

In recognition of its efforts, the airline received the Management Excellence Award for turnaround performance in 2019 at the 12th International Civil Aviation Conference organised by ASSOCHAM.

Published on October 28, 2020

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