Tata Airlines: A few years ago, the government airline Air India, which was burdened with heavy debt, was bought by the Tata Group. After this, the fortunes of Air India changed and now this airline is moving rapidly towards writing a success story. Air India’s losses are decreasing rapidly. According to the annual report of the Tata Group, Air India’s revenue jumped by 24 percent in FY 2024 and reached Rs 51,365 crore. The airline has earned the highest revenue so far in the last financial year. If Air India continues on this path, the day is not far when it will start competing with the country’s largest airline IndiGo.
Air India’s loss stands at Rs 4,444 crore
The government privatized Air India in the year 2022. With this, Air India returned home. This airline was started by the Tata Group, but later the government took it into its hands.
According to the annual report of Tata Group, Air India’s loss has come down to Rs 4,444 crore in the financial year 2024. This figure was Rs 11,388 crore a year ago. The turnover of Tata SIA Airlines, operating under the Vistara brand, has increased by 29 percent to Rs 15,191 crore in the same period. Its loss has also come down from Rs 1,394 crore to Rs 581 crore.
Merger of Air India and Vistara will improve performance
In this financial year, Tata Group has decided to merge Air India and Vistara. This merger is to be completed by December 2024. Vistara will fly its last flight in November and after that it will hand over its aircraft and staff to Air India. Due to this, Air India will have more aircraft and routes. The report said that in the financial year 2024, Air India’s capacity has reached 105 billion available seat km (ASKM). Also, the passenger load factor has also increased to 85 percent. In the last financial year, Air India, Vistara, Air India Express and AIX Connect have contributed significantly to the growth of Tata Group.
IndiGo earns Rs 8,167 crore net profit
In the financial year 2024, the revenue of Indigo Airlines’ parent company InterGlobe Aviation was Rs 68,904 crore. The company has made a net profit of Rs 8,167 crore.
According to the 106th annual report of Tata Sons, the market cap of Tata Group has reached Rs 30.37 lakh crore. Till a year ago, this figure was Rs 20.71 lakh crore. The profit of Tata Group’s holding company Tata Sons has also increased by 74 percent to Rs 49,000 crore. Along with this, the salary of Tata Sons Chairman N Chandrasekaran has also increased by 20 percent and now he is being paid Rs 135.32 crore.
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