Industry

AI Express posts ‘record’ profit in FY20

Air India Express, the low-cost international arm of Air India, reported its highest-ever net profit of ₹412 crore for FY20.

The airline’s profit is 2.5 times what it earned the year before at ₹169 crore. The airline has been reporting net profit for the past five consecutive years. Despite the adverse market conditions due to COVID-19, operating revenue rose more than 25% to ₹5,219 crore, the airline said. “Efficient asset utilisation and enhanced operational efficiency have significantly contributed to the record profit,” said CEO Shyam Sundar.

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Printable version | Nov 24, 2020 1:35:15 AM | https://www.thehindu.com/business/Industry/ai-express-posts-record-profit-in-fy20/article32966443.ece

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