Air India Express, which operates flights mainly between India and the Gulf countries, posted a net loss for the first time in seven years, because of the Covid-19 pandemic that disrupted scheduled international services. The airline posted a net loss of Rs 72.33 crore in FY22, against a net profit of Rs 98.21 crore in FY21, according to the documents it submitted to the Registrar of Companies (ROC).
The Tata group took control of Air India and its subsidiary Air India Express on January 27 this year. Air India is in the process of being merged with another Tata group-owned airline AirAsia India.
Before FY22, Air India Express was in the red in FY15, when it posted a net loss of Rs 61 crore.
