Kochi: Air India Express, the low cost arm of Air India, has earned a net profit of Rs 262 crore in the 2017-18 financial year. The airline has been registering a net profit for the third consecutive year.
“The net profit in 2017-18 is significant as the aviation sector had to face many challenges including high input costs and sluggishness of Gulf economies where 90 percent of our capacities are deployed,” said K. Shyam Sundar, CEO, Air-India Express.
The unit costs have increased over the past 12 months due to steady increase in global fuel rates. The average cost of fuel in March 2018 was about 20 per cent more compared to what it was in March 2017.
Air India Express increased its revenues by 8.7 percent recording total revenue of Rs 3,648 crore.
