Aviation

Air India on right path to turn profitable by FY17

DELHI

Seven years after the merger of erstwhile Indian Airlines and Air India was announced, the national carrier drew some criticism last week for celebrating ‘Air India day’ on August 27 – the day in 2007 when the merger process formally began.

The criticism was over alleged waste of a large amount of money when the airline is bleeding — a charge the management has vehemently denied. While the issue is still being debated in the media, a look at Air India’s progress in the last two years shows that the airline has surely done some things right.

Air India continues to operate under losses and ended FY14 with net losses, but it reported EBIDTA positive for the second consecutive fiscal in FY14 at over Rs 700 crore, a significant increase from Rs 19 crore in the previous fiscal.

Read more at Economic Times

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