Tata Group-owned airline, Air India, has significantly reduced its losses for FY24, slashing them by 60% to ₹4,444.1 crore. In comparison, the airline had posted a loss of ₹11,387.96 crore the previous year. According to Tata Sons’ annual report, Air India’s turnover also saw a 23.7% rise, reaching ₹38,812 crore, up from ₹31,377 crore last year.
Focus on Strengthening Market Share
Air India has been working to consolidate its operations, with AirAsia India merging into Air India Express and Vistara set to merge with Air India. The airline posted its highest-ever consolidated annual operating revenue of ₹51,365 crore, a 24.5% increase from last year.
The annual report also highlighted an improvement in the passenger load factor, which increased to 85% from 82% in the previous year. During the reporting period, the airline operated 800 daily flights, serving 55 domestic and 44 international destinations, with 40 million passengers flying across its routes.
Tata Group’s Airline Portfolio
Tata Group owns three airlines: Air India, Air India Express, and AIX Connect, while Vistara operates as a 51:49 joint venture between Tata Sons and Singapore Airlines.
It has already been announced that Vistara will operate its final flight on November 11 and merge with Air India by November 12. Additionally, Air India Express’ CEO, Aloke Singh, confirmed that AIX Connect will be merged into the company on October 1.
Future Outlook
The recent reduction in losses and improved operational efficiency reflects Air India’s commitment to strengthening its market share and consolidating its presence in the global aviation industry. With major mergers underway, the airline is poised for continued growth and better financial performance in the years to come.
This transformation aligns with Tata Group’s broader strategy to build a competitive and profitable airline, positioning Air India as a leading global carrier.
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