Air India’s operating profit more than doubles to INR2.98b In FY17

Air India Ltd. has been “consistently improving” its overall performance and more than doubled its operating profit to INR2.98b in the last financial year, according to the govt. The net loss of the airline, however, widened to INR57.65b in 2016-17. The divestment-bound carrier had an operating profit of INR1.05b in 2015-16. “Air India has been consistently improving its overall financial and operational performance since the implementation of the turnaround plan by the govt,” minister of State for Civil Aviation Jayant Sinha said Thursday. The previous UPA govt, in 2012, had approved a turnaround plan under which Air India is to receive a total equity infusion worth INR302.31b up to 2021 subject to meeting certain performance thresholds. <br/>