Air India incurs loss despite surge in air traffic

By agencies   |   Thursday, 10 March 2005, 20:30 IST
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NEW DELHI:Despite surge in tourism and air traffic, India’s flag carrier Air India was the only airlines to report operating loss in the 2003-04 fiscal. All other airlines have reported profits in the same fiscal. While the other five airlines — Indian Airlines, Alliance Air, Jet Airways, Air Sahara and Air Deccan — reported operational profits, A-I reported an operational loss of 115.45 crore last fiscal. Led by heavy domestic and international tourists and fares slash by airlines, the industry saw profits rise to Rs 452.29 crore. India’s oldest private airlines, Jet Airways was the most profitable airlines with a profit of Rs 355.03 crore, Indian Airlines reported operating profits of Rs 125.10 crore while Air Sahara reported an operating profit of Rs 81.17 crore during the year.