PSU NEWS
Air India Posts Rs 105 Crore Operating Profit First Time In 10 Years
New Delhi:For the first time in a decade, Air India has reported an operating profit of Rs. 105 crore in the last fiscal aided by lower fuel costs and rise in passenger numbers.The state-owned airline, which is working on ways to improve its financials, had an operating loss of Rs. 2,636 crore in 2014-15.
During its meeting today, the Air India board approved the financial numbers for 2015-16 and the carrier has reported an operating profit of Rs. 105 crore, sources said.
This is the first time since 2007 -- when the erstwhile Indian Airlines was merged with Air India -- that the national carrier has eked out an operating profit.
Having an operating profit in a decade is an encouraging sign for the airline, which is seeking to turn around its fortunes amid stiff competition, sources said.
In 2015-16, Air India carried 18 million passengers, registering a growth of 6.6 per cent. In the comparable period, the same stood at 16.88 million, they added.
However, in 2015-16, the carrier saw its revenue slide to Rs. 20,526 crore from Rs. 20,613 crore in 2014-15.NDTV
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