New Delhi, Oct 29 : Air India’s low-cost international subsidiary Air India Express on Wednesday reported its highest-ever net profit, at Rs 412.77 crore for the financial year 2019-20.
The airline had reported a net profit of Rs 169 crore in 2018-19.
The airline which started its commercial operations in April 2005, has been reporting net profit continuously for the last five years.
“Efficient utilisation of assets in terms of aircraft, manpower and materials and enhanced operational efficiency in key areas have significantly contributed to the the record profits,” said K. Shyam Sundar, CEO, Air India Express.
The airline’s operating revenues grew by over 25 per cent from Rs 4,172 crore in FY2018-19 to Rs 5,219 crore in FY2019 -20.
Besides, the number of passengers flown by Air India Express increased by 11 per cent to reach 4.84 million from 4.36 million in 2018-19.