Air India reports 23.69pc growth in turnover for FY2023-24

Delhi : Air India's efforts to enhance efficiency and secure long-term profitability follow a significant improvement in the airline's financial performance for the fiscal year 2023-24, with losses reduced to INR 4,444.10 crore from INR 11,387.96 crore in 2022-23. The airline also saw a strong 23.69 per cent increase in turnover, reaching INR 38,812 crore.

Air India CEO Campbell Wilson made the announcement in a message to staff on December 27.

Since the Tata Group's acquisition of the airline in January 2022, Air India has been working to rejuvenate its operations.

Wilson emphasised the key milestones achieved in 2024, including the successful mergers of Air India Express with AirAsia India, and Vistara with Air India. These moves have positioned the airline as the fourth-largest business by revenue within the Tata Group.

Currently operating a fleet of 300 aircraft across its various brands, Air India serves more than 60 million customers annually, connecting them to over 100 destinations worldwide.

Reflecting on 2024 as a transformative year for both the airline and the broader Indian aviation industry, Wilson noted that 2025 would bring further progress on several important initiatives. These include refitting both wide-body and narrow-body aircraft with new seats and services to enhance passenger experience.

Earlier in December, Air India placed a landmark order for 100 additional Airbus planes, including 10 wide-body A350s and 90 narrow-body A320s, raising its total aircraft order to 570.

To further streamline operations, the airline has optimized its fleet deployment, placing its top-performing narrow-body and wide-body aircraft on high-density, high-demand routes.