Air India narrows losses by 60% to Rs 4,444 cr in FY24; CEO Campbell Wilson highlights efficiency drive, merger milestones in 2024
Air India is focusing on improving internal processes to boost efficiency and ensure long-term profitability, according to CEO Campbell Wilson.
This strategic approach follows a substantial financial turnaround for the airline in the fiscal year 2023-24, with its losses narrowing to Rs 4,444.10 crore from Rs 11,387.96 crore in 2022-23, reported Financial Express.
The airline also achieved a robust 23.69% increase in turnover, reaching Rs 38,812 crore.
Since the Tata Group took over the struggling airline in January 2022, Air India has been working to revitalise its operations.
In a staff communication on Friday, Wilson outlined major achievements in 2024, including the successful mergers of Air India Express with AirAsia India, and Vistara with Air India.
These integrations have made Air India the fourth-largest revenue-generating entity in the Tata Group.
Currently, Air India operates a fleet of 300 aircraft across its brands, catering to over 60 million passengers annually and connecting them to more than 100 destinations globally.
Reflecting on 2024 as a transformative year for the airline and the Indian aviation sector, Wilson shared plans for further progress in 2025.
Key initiatives include refurbishing wide-body and narrow-body aircraft with upgraded seating and services to enhance customer experience.
In December, the airline placed an additional order for 100 Airbus aircraft, comprising 10 wide-body A350s and 90 narrow-body A320s, increasing its total aircraft order to 570.
To improve efficiency, Air India has optimised fleet deployment by assigning its best-performing wide-body and narrow-body aircraft to high-density, high-demand routes.
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