Air India Express nets profit of Rs 415 crore

KOCHI: Air India Express, the low cost arm of Air India, has earned a net profit of Rs 415 crore, as per the unaudited half yearly accounts placed and approved by the airline’s board of directors on Tuesday. The first half of the fiscal (H1) witnessed capacity increase of 21 per cent, and the airline’s operating revenue has increased 18 per cent during the period.

The airline has achieved operating revenue of Rs 1,897 crore against Rs 1,609 crore earned in the first half of financial year 15-16. The airline has carried 1.64 million passengers during the April-September 2016 period, the company said in a release.

Air India Express has inducted four Boeing 737-800 NG aircraft to its fleet, on dry lease, during the first half of this fiscal, which has enabled the airline to introduce several new routes and increase frequencies on its existing routes. The first half of the year has witnessed start of new operations like New Delhi–Dubai, New Delhi–Abu Dhabi, Mumbai–Dubai, Mumbai–Sharjah, Chandigarh–Sharjah, Tiruchirappalli– Sharjah, and Kochi– Dammam, etc.

With the induction of two more Boeing 737-800 NG aircraft in the third quarter, the airline’s fleet size now stands at 23. Consequently, the capacity offered and the operating revenues are set to go up further, by about 25% in the current fiscal. In response to the market requirement, the airline is set to offer facility to book tickets through net banking, in addition to the existing credit/debit card- based online payment mode. The airline generates all its bookings through the web based booking engine.