KOCHI: Air India Express (AIE), the low-cost arm of Air India, earned a net profit of Rs 415 crore, as per the unaudited half-yearly accounts placed and approved in the meeting of AIE Board of Directors on Tuesday. In the first half (H1) of this fiscal, AIE witnessed a capacity increase of 21 percent, while its operating revenue increased by 18 percent to Rs 1897 crore, against the Rs 1609 crore earned in H1 of the 2015-16 financial year. It carried 1.64 million passengers this H1, said AIE officials.
The same period saw AIE expanding its wings by inducting four Boeing 737-800 NG aircraft to its fleet on dry lease, which allowed it to introduce several new routes and increase flight frequency on existing routes. Start of new flight operations, including New Delhi-Dubai, New Delhi-Abu Dhabi, Mumbai- Dubai, Mumbai-Sharjah, Chandigarh- Sharjah, Tiruchirappalli- Sharjah and Kochi-Dammam, to name a few, were also witnessed in the period. With the induction of two more Boeing 737-800 NG aircraft in the third quarter, AIE’s fleet size now stands at 23.
Consequently, the capacity offered and the operating revenues are expected to go up by about 25% in the current fiscal, said officials. With the enhanced fleet size, AIE plans to strengthen its presence in North Indian markets and additional flight operations from its core markets in South India. With its recent announcement of starting operations between Kozhikode and Riyadh from December 2, the AIE network will cover 15 Indian cities and 15 international destinations. In response to market requirements, it will offer the facility to book tickets through net banking, in addition to the existing credit/ debit card-based payment mode.