Revenue of the debt-ridden, disinvestment bound Air India has grown by 20 per cent in the March to April period of the year, Mint has reported.
According to the report, the carrier is now focusing on increasing flying hours of each of its aircraft to add more trips both in the domestic and international sectors.
“During March-April, the revenue has increased by about 20 per cent as compared to the same period last year at roughly about Rs3,000 crore, though expenses continue to remain high,” said Managing Director of Air India Pradeep Singh.
“We are focussing on improving on the operational efficiency. We are doing our route analysis and all, finding out which are the more yielding routes and we are focussing on those routes,” he was quoted by the PTI as saying.
The carrier, Singh said, is focusing on its international routes, which generate 70 per cent of Air India’s total revenue. New destinations added by the carrier, such as Tel Aviv, are giving good return. The increased frequency of flights on the San Francisco route to nine days a week is likely to generate Rs 90 crore a month.
In 2016-17, the carrier more than doubled its operating profit to Rs 298.03 crore. However, during the same period, it’s net loss widened to Rs 5,765 crore. While it had an operating profit of Rs 105 crore in 2015-16, the net loss stood at Rs3,836 crore. The government has invited bids to divest 76 per cent stake in the carrier.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.