Public sector carrier, Air India, has posted cash profit of Rs 21.66 crore in November 2010, a record in recent times for the cash-strapped national carrier. Air India said on Monday that it was largely possible due to significant improvement in efficiency parameters, coupled by better yield management strategies and a growing number of passengers showing faith in the national carrier.
Another significant indicator was that Air India’s network reported that 108 of the 194 flights during November 2010 raked in cash profits, an unusual feat for the carrier in recent times.
“The peak season for air travel would continue and our employees’ commitment to meet the challenge is evident,’’ said Mr Arvind Jadhav, CMD, Air India, while reiterating the fact the Rs 1200 crore fresh equity infusion by the government has helped strengthen the employees morale.
During the period April–November 2010, Air India recorded network revenue of Rs 7,250 crore as compared to the revenue of Rs 5,911 crore achieved during the corresponding period of the previous year, thus showing a growth of 22.6%.
Out of the total network revenue, Rs 4,401 crore was recorded on international flights as compared to Rs 3,801 crore in the same period in previous year, showing a gain of 15.8%. Network revenue on domestic flights jumped 35%, from Rs 2,110 crore in April-November 2009 to Rs 2,849 crore in April-November 2010.
The airline registered an overall passenger load factor of 66.3% during April-November 2010, up from 63.1% achieved in the year-ago period. On its international network, the passenger load factor increased to 65.0% from 62.2% while on its domestic network, the passenger load factor increased to 70.4% from 66.2% during this period, Air India said in a statement.
