 "Air India Express reports highest ever net profit at Rs 412 crore")
Air India Express has reported its highest ever net profit of Rs.412.77 Crore in FY 2020 due to increase in revenue and operational efficiencies, the airline announced today.
The airline's audited accounts were approved on Tuesday. Air India's no-frills service subsidiary has been making profits continuously for the past five years and last year it made a net profit of Rs 169 crore.
“Efficient utilisation of assets in terms of aircraft, manpower and materials and enhanced operational efficiency in key areas have significantly contributed to the the record profits”, said K. Shyam Sundar, CEO, Air India Express.
Despite the adverse market conditions due to onset of Covid 19 during the last quarter of the fiscal, the airline’s operating revenues grew by over 25 percent from Rs. 4,172 Crore in FY 2019 to Rs. 5219 Crore in FY 2020.
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