Daijiworld Media Network – Mumbai (AM)
Mumbai, Feb 14: The low-cost subsidiary of national carrier Air India Ltd, Air India Express, has reported a net profit of Rs 679.8 crore during April-September 2019, an increase of about 26 per cent over the Rs 177.3 crore profit reported during the same period previously.
K Shyam Sundar, CEO, Air India Express, in a statement said that the airline's revenue rose 75% year-on-year to Rs 3,124.34 crore. “In this financial year, we will exceed the figure of Rs 5,000 crore in operating revenues, and this will be for the first time, since the airline’s inception,” he said.
Air India Express reported revenue of Rs 4,171.5 crore and a net profit of Rs 168.5 crore during 2018-19.
The airline said it will introduce non-stop flights on Tiruchirappalli–AbuDhabi which will operate four times a week and Tiruchirappalli–Doha which will operate thrice a week, in its 2020 summer schedule, commencing from March 28.
The centre has already begun the process for entire stake sale of Air India and Air India Express and a 50 per cent stake in Air India SATS Airport Services Private Ltd.