New Delhi/Kochi, July 30 (IANS) Air India’s low cost international subsidiary — Air India Express — on Tuesday reported a net profit of Rs 169 crore for fiscal 2018-19.
“The net profit earned in the last fiscal is particularly significant as the aviation sector has had to face many challenges, including high input costs,” Air India Express Chief Executive K. Shyam Sundar was quoted as saying in a statement.
Unit cost on fuel incurred by the airline increased by around 35 per cent during this period. Fuel comprises more than 40 per cent of the carrier’s operating cost.
Airline revenues during the fiscal under review grew by 16.07 per cent to Rs 4,202 crore, from Rs 3,620 crore in fiscal 2017-18.
Air India Express operates flights to 13 international and 20 Indian destinations with a fleet of 25 Boeing 737-800 NG aircraft.