Air India Express, Air India’s Kochi-based subsidiary, which turns 10 this month, has for the first time made a net profit.
Though the airline has not revealed the quantum of net profit, it has been said in a statement that its operating revenue had gone up by 10 per cent to ₹2,600 crore in the last financial year. It was planning to raise the operating revenue by ₹200 crore in the current fiscal. Its passenger carriage had gone up by 13.8 per cent last year. The airline, which mainly caters to the Indian migrant workers in the Gulf countries, is planning to expand its operations by taking on lease eight 737-800 NG aircraft next year to add to its current fleet of 17 such aircraft, which are wholly owned by it.
Air India Express began its operations a decade ago with three leased aircraft and flying to six Gulf destinations from three Kerala airports. It now connects 11 Indian cities to 12 international destinations, in the Gulf and South East Asia. Its present fleet size comprises 17 state-of-the-art Boeing 737-800 NG aircraft that are wholly owned by the company.