Air India, now under Tata Group ownership, has reduced its losses by 60% in FY24. The airline reported a loss of ₹4,444.10 crore, down from ₹11,387 crore the previous year, as per Tata Sons’ 2023-24 annual report.
The airline’s turnover rose 23.69%, reaching ₹38,812 crore compared to ₹31,377 crore the year before. The Tata Group is streamlining its aviation business by merging AirAsia India (AIX Connect), Air India Express, and Vistara with Air India.
Air India’s consolidated annual operating revenue hit an all-time high of ₹51,365 crore, a 24.5% increase over FY23. This growth was largely driven by a 21% rise in capacity, reaching 1,059 million available seat kilometres.
Passenger load factor for the airline increased to 85% in FY24, up from 82% in FY23. Air India flew over 40 million passengers across 800 daily flights, serving 55 domestic and 44 international destinations.
The merger between Air India and Vistara is nearing completion, with Vistara set to operate its final flight on November 11. Air India Express and AIX Connect will merge their operations starting October 1.
