Air India posts 60% fall in losses at ₹4,444 crore in FY24: Tata Group

Tata Group's Air India reduces losses by 60% to ₹4,444.10 crore in FY24, reports annual report.

Tata Group-owned Air India shaved off its losses by 60% to ₹4,444.10 crore in FY24 over the previous year, according to the Tata Sons annual report for 2023-24.

The airline had reported a loss of ₹11,387.96 crore in FY23, the annual report said.

The turnover rose 23.69% to ₹38,812 crore during the reporting year as against a turnover of ₹31,377 crore, the report stated.

The report said the group is consolidating its aviation presence with the merger of AirAsia India (AIX Connect) with Air India Express and the ongoing merger of Vistara with Air India.

It also said that Air India has recorded its highest consolidated annual operating revenues of ₹51,365 crore, up 24.5% over FY23 driven by growth in capacity to 1,059-million available seat kilometres, which was 21% higher over the previous year, it said.

It also saw an improvement in passenger factor to 85% against 82% 2022-23, as per the annual report.

During the reporting year, 40.45 million passengers were flown by operating 800 daily flights, including 55 domestic and 44 international destinations, it said.