Air India Express made losses after 7 years..!| Dinamalar

Air India Express reported a loss of Rs 72 crore in the financial year 2021-22 for the first time in 7 years due to Covid restrictions.

Due to the spread of Covid, international air traffic has been banned from April 2022 to March 2022. Flights were launched to rescue the stranded in various countries under the Vande Bharat programme.

Air India Express, a subsidiary of Air India, operates flights mostly between India and the Gulf countries. 24 Boeing 737 aircraft are operated under Air India Express.

For the financial year 2021-22, the total income and expenditure is Rs 3,522 crore and Rs 3,251 crore respectively. At the same time, the number of air passengers increased by 56 percent to 22.9 lakh.

Tata Group acquired Air India and its subsidiary Air India Express in January 2022. Following this, Air India is in the process of merging with AirAsia, the airline arm of the Tata Group.

In this case, in the documents filed by Air India Express with the Registrar of Companies, it has been stated that:

2nd and 3rd waves of covid infection are hampering the aviation market recovery. The international aviation market, which is a major business in particular, is holding back the recovery. There is constant focus on adapting skills to meet demand, finding a path to profitability, reducing employee salaries, and moving freight. In the 2021-22 financial year, these have tried to keep the company’s losses under control. Meanwhile, parent company Air India, which has been loss-making for years, posted a net loss of Rs 9,556 crore.

It says so.

A total of 10,172 flights were operated by Air India Express in 2021-22. Only 190 of them are domestic flights. Air India Express operates flights from India to 15 Gulf countries including Dubai, Abu Dhabi and Sharjah.

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Net revenue increased to Rs 209 crore with freight traffic growing by 58 per cent. This was Rs 132 crore in the last financial year. The main reason for this is more than 300 cargo flights operated during the curfew. Each plane carried an average of 15 tons of cargo.

In the financial year 2020-21, Air India Express had earned a net profit of Rs 98.21 crore. The last financial year 2014-15 saw a net loss of Rs.61 crore.

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