"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," the release said.
Despite adverse market conditions due to onset of COVID-19 during the last quarter of 2019-20 fiscal, the airline's operating revenues grew by over 25 per cent to Rs 5,219 crore from Rs4,172 crore in the year-ago period, it added.
During the last financial year, Air India Express flew 11 per cent more passengers at 4.84 millionas against 4.36 million passengers in 2018-19 fiscal while Passenger Load Factor (PLF) rose to 5 per cent.
According to the release, about 4.66 million of these passengers travelled on international sectors, taking the airline's share of traffic to/ from India to 7.1 per cent in the previous fiscal. The same stood at 6.5 per cent in 2018-19 fiscal.
PLF or seat factor is a measure of how much of an airline's passenger carrying capacity is used or average percentage of seats filled in an aircraft.
Air India Express also said it increased capacity by six per cent in the last fiscal compared to the year-ago period.
"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," Air India Express CEO K Shyam Sundar said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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