Air India Focuses On Profit With Upgraded Strategies
Date
12/28/2024 5:11:56 AM
(MENAFN- Bangladesh Monitor)
New Delhi: Air India, acquired by the Tata Group from the government in January 2022, is making steady progress toward profitability under its ambitious transformation plan. The airline has implemented several initiatives to reduce losses and enhance operational efficiency.
CEO Campbell Wilson recently expressed optimism about turning the airline's fortunes around by 2025. In a message to employees, he outlined key focus areas, including upgrading wide-body and narrow-body aircraft, streamlining operations, and improving processes to boost efficiency and profitability.
"The year 2024 marked major milestones for Air India, including the completion of mergers with Air India Express, AirAsia India, and Vistara. These developments have positioned us as the Tata Group's fourth-largest business by revenue," Wilson said.
Currently, Air India operates a fleet of 300 aircraft across its brands, serving over 60 million passengers annually and connecting more than 100 destinations globally. Describing 2024 as a transformative year for the airline and the aviation sector in India, Wilson expressed confidence in achieving higher service standards and meeting new customer expectations in 2025.
"We aim to strengthen our practices and processes to ensure consistency, efficiency, and ultimately, profitability," he added.
Refitting of narrow-body aircraft has already started, while upgrades for wide-body planes are planned for 2025.
In the financial year 2023-24, Air India reduced its losses significantly to Rs 4,444.10 crore, compared to Rs 11,387.96 crore in 2022-23. The airline's turnover also increased by 23.69 per cent to Rs 38,812 crore during the same period.
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