New Delhi, Aug 29 (IANS): Enhancements in operating efficiency and better aircraft utilisation have aided Air India to reduce its losses during the first quarter of the current fiscal.
According to Chairman and Managing Director (CMD) of Air India, Ashwani Lohani, passenger revenues during the first 4 months of the current fiscal year grew by 20 per cent.
Lohani was speaking at an industry event here.
Similarly, Lohani pointed out that operating profits rose 18 per cent on a Year-on-Year (YoY) basis.
The national carrier's load factors have risen to 82 per cent on a year-on-year basis.
Consequently, the airline's losses went down from Rs 802 crore to Rs 170 crore on a YoY basis.
"We expect to achieve a healthy operating profit this year as well," Lohani said.
Air India has been reporting operating profit for the last 3-years.