Air India’s transformation plan is bearing fruit as the airline has expanded its network and managed to cut down its losses, Managing Director and CEO Campbell Wilson wrote in a staff email on Friday.
Air India’s market share in domestic routes increased from 24 per cent to 27 per cent on a year on year basis in FY 2024. Similarly its share on international routes rose from 21 per cent to 24 per cent in the same period on the back of network expansion and service improvements..
In the past two years the airline launched 35 new routes and added eleven new destinations with induction of new aircraft and hiring of 9,000 personnel, Wilson said.
In September 2022, Air India announced five year plan to transform itself into a world class global airline. While it continues to be in the red, consolidated losses have reduced by 50 per cent on a year on year basis in FY24. Similarly consolidated operating revenue grew by 25 per cent to ₹51, 365 crore the highest ever.
Air India announced completion of second year of transformation plan on Friday.
“When we consider that the financial year in question covered only the early part of our transformation programme, before most of the initiatives we have been working on were implemented, these early results should encourage us that the effort is bearing fruit. Work has of course continued apace in the six months since the financial year ended, and the strong momentum has continued,” Wilson wrote.