Air India Express earns record profit of Rs 412.77 crore in FY20
Efficient utilisation of assets in terms of aircraft, manpower and materials and enhanced operational efficiency helped the airline achieve the milestone, says Air India Express' chief executive officer K Shyam Sunder
October 28, 2020 / 08:35 PM IST
Air India Express posted a record net profit of Rs 412.77 crore for the financial year ending March 2020, it said on October 28.
The airline announced the results in a tweet, saying: "Air India Express has reported its highest ever net profit of Rs 412.77 crore in the financial year 2019-20 as per the audited accounts approved by the Airline’s Board of Directors on October 27, 2020."
"Efficient utilisation of assets in terms of aircraft, manpower, and materials and enhanced operational efficiency in key areas have significantly contributed to the record profits," K Shyam Sunder, the chief executive of Air India Express, said.
The airline had started operations in 2005 as an Air India subsidiary for shorter routes within the country. It posted a profit of Rs 169 crore in FY19, the Hindu reported.