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Air India Likely To Post Consolidated Profit In Current Fiscal: Report
As per the report, its subsidiary airline Air India Express is also likely to post a consolidated profit
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Tata-owned Air India is expected to post a consolidated profit in this fiscal year (FY23), and make a turnaround from a standalone loss of Rs 7,000 crore in FY22, as per a report from a leading media house.
As per the report, its subsidiary airline Air India Express is also likely to post a consolidated profit.
The revenue performance for the airline has improved significantly. The source also added that prior to the privatisation the airline used to earn Rs 70 crore per day but under Tata, it earns Rs 100 crore per day now.
The better management of cost and higher demand in international routes may result in profits for the company, which is also expected to post the first positive earnings before interest, tax, depreciation and amortisation (EBITDA) in FY23.
Last week, Air India's CEO Campbell Wilson said that the company's progress has been "nothing short of stunning" in the past year.