Mumbai: Tata Group-owned Air India's loss narrowed by 60 per cent to Rs 4,444.10 crore in FY2024 compared to the previous year, according to Tata Sons' annual report for 2023-24.
The airline had reported a loss of Rs 11,387.96 crore in FY2013, the annual report said.
The report said that the turnover during the year under review increased by 23.69 percent to Rs 38,812 crore as against Rs 31,377 crore.
The group is strengthening its aviation presence with the merger of AirAsia India (AEX Connect) with Air India Express and the ongoing merger of Vistara with Air India, the report said.
It also said Air India recorded its highest-ever consolidated annual operating revenue of Rs 51,365 crore, up 24.5 per cent over FY23, due to capacity addition of 1,059 million available seat kilometres. , which was 21 percent more than the previous year. Said.
According to the annual report, passenger factor saw an improvement of 85 per cent as against 82 per cent in 2022-23.
It said that during the year under review, 800 daily flights were operated, including to 55 domestic and 44 international destinations, carrying 40.45 million passengers.
The Tata Group wholly owns three airlines – Air India, Air India Express and AIX – while there is a 51:49 joint venture between Vistara Group and Singapore Airlines.
It has already been announced that Vistara will operate its last flight under its banner on November 11 and its operations will be merged with Air India on November 12.
Additionally, Air India Express chief Alok Singh announced in an internal communication on Friday that AIX Connect will be merged with it on October 1.
The airline had reported a loss of Rs 11,387.96 crore in FY2013, the annual report said.
The report said that the turnover during the year under review increased by 23.69 percent to Rs 38,812 crore as against Rs 31,377 crore.
The group is strengthening its aviation presence with the merger of AirAsia India (AEX Connect) with Air India Express and the ongoing merger of Vistara with Air India, the report said.
It also said Air India recorded its highest-ever consolidated annual operating revenue of Rs 51,365 crore, up 24.5 per cent over FY23, due to capacity addition of 1,059 million available seat kilometres. , which was 21 percent more than the previous year. Said.
According to the annual report, passenger factor saw an improvement of 85 per cent as against 82 per cent in 2022-23.
It said that during the year under review, 800 daily flights were operated, including to 55 domestic and 44 international destinations, carrying 40.45 million passengers.
The Tata Group wholly owns three airlines – Air India, Air India Express and AIX – while there is a 51:49 joint venture between Vistara Group and Singapore Airlines.
It has already been announced that Vistara will operate its last flight under its banner on November 11 and its operations will be merged with Air India on November 12.
Additionally, Air India Express chief Alok Singh announced in an internal communication on Friday that AIX Connect will be merged with it on October 1.
