Air India exec says airline could make operating profit this fiscal year
Air India may post an operating profit this financial year aided by low fuel prices, the first for the carrier since the merger of the country’s domestic and international flag carriers in 2011. The airline’s commercial director Pankaj Srivastava said AI would certainly meet the target of operating back in the black next year. The recent slump in oil prices has been a US$150mn benefit to the airline, Srivastava said. The airline has now begun to lock in costs for about 25% of planned consumption to help assure it continues to benefit from low spot rates, he said. The positive financial result also reflects operational improvements, Srivastava said, adding that load factor rose and on-time performance also increased. The airline expects to carry about 18m passengers this financial year. <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2016-03-14/star/air-india-exec-says-airline-could-make-operating-profit-this-fiscal-year
https://portal.staralliance.com/imagelibrary/logo.png
Air India exec says airline could make operating profit this fiscal year
Air India may post an operating profit this financial year aided by low fuel prices, the first for the carrier since the merger of the country’s domestic and international flag carriers in 2011. The airline’s commercial director Pankaj Srivastava said AI would certainly meet the target of operating back in the black next year. The recent slump in oil prices has been a US$150mn benefit to the airline, Srivastava said. The airline has now begun to lock in costs for about 25% of planned consumption to help assure it continues to benefit from low spot rates, he said. The positive financial result also reflects operational improvements, Srivastava said, adding that load factor rose and on-time performance also increased. The airline expects to carry about 18m passengers this financial year. <br/>
