A Simply Priceless Achievement
The Airline has been reporting net profit for five consecutive years, backed by its efficient utilization of assets and strong passenger patronage
The Air India Express, India’s first international budget carrier, is celebrating its 15th anniversary with flying colours. The Airline, which started its commercial operations in April 2005, recently reported its highest ever net profit of Rs. 412.77 Crore in the financial year ending March 2020. The net profit in 2018 -19 was Rs. 169 Crore.
The Airline has been reporting net profit for five consecutive years, backed by its efficient utilization of assets and strong passenger patronage.
As per the audited accounts approved by the Airline’s Board of Directors on 27 October 2020, the Airline’s operating revenues grew by over 25% from Rs. 4172 Crore in FY 2018- 19 to Rs. 5219 Crore in FY 2019 -20. It is worth noting that the revenue growth was achieved despite the adverse market conditions due to the onset of COVID-19 during the last quarter of the fiscal.
“Efficient utilization of assets in terms of aircraft, manpower & materials and enhanced operational efficiency in key areas have significantly contributed to the record profits”, says Mr. K. Shyam Sundar, CEO, Air India Express.
“The credit for this significant financial achievement should go to each and every employee of Air India Express, who contributed through their commitment, hard work and team spirit. Obviously, these results would not have been possible without the support of our esteemed customers. The guidance received from Chairman / CMD Air India, the Board Members of Air India Express and the top executives in the parent company and its subsidiaries made this success possible,” he added.
Increase in Number of Passengers
The increase in the number of passengers during this period stands testimony to the fact that the Airline remains the most preferred brand in its core markets. The number of passengers flown by Air India Express increased by 11% to reach 4.84 million from 4.36 million in 2018-19. About 4.66 million of them travelled on the international sectors, taking the Airline’s share of traffic to/from India from 6.5% in FY 2018-19 to 7.1 %.
The year also witnessed a 6% increase in capacity offered and 5% growth in Passenger Load Factor.
Pat on the Back
In recognition of its efforts, the Airline received the Management Excellence Award for turnaround performance in 2019 at the 12th International Civil Aviation Conference organized by ASSOCHAM.
The Air India Express also shared its progress with the society through Corporate Social Responsibility projects, one of which was selected for the ‘Dalmia Bharat- CSRBOX 6th CSR Impact Awards’ 2019’.
A big thank you to our esteemed passengers and business associates for helping us to keep flying high.