Air India Cuts Losses by 60%, Boosts Turnover Amid Mergers

Tata Group's Air India drastically reduced its losses by 60% to Rs 4,444.10 crore in FY24, compared to the previous fiscal year. The airline also saw a substantial turnover increase of 23.69%, reaching Rs 38,812 crore. Significant mergers with AirAsia India and Vistara are consolidating the Tata Group's aviation sector.

Tata Group-owned Air India has significantly reduced its financial losses by 60% to Rs 4,444.10 crore in FY24, as revealed in the Tata Sons annual report for 2023-24.

The report further highlights that the airline's turnover climbed by 23.69% to Rs 38,812 crore during the same period, compared to Rs 31,377 crore in the previous year. This surge in revenue is attributed to increased capacity and higher passenger numbers.

The Tata Group is expanding its footprint in the aviation sector through strategic mergers. AirAsia India is set to merge with Air India Express on October 1, and Vistara will be integrated into Air India by November 12. These moves aim to create a more robust and unified airline under the Tata umbrella.

(With inputs from agencies.)