MUMBAI: Air India Express, the regional international subsidiary of beleaguered state-run carrier Air India, on Tuesday, said that it has reported net profit for the fourth consecutive year, even while its parent Air India Ltd is yet to report a net profit since its ill-fated merger with Indian Airlines nearly a decade ago.
The budget airline reported a net profit of ₹169 crore for the full year ending March 31, 2019, compared with ₹262 crore it reported in the same period of the previous year. The profits fell 35.5% on an annual basis.
Meanwhile, Air India Express’ revenues grew by 16.07 % during FY 19, going up from Rs. 3, 620 Crores in 2017-18 to Rs. 4,202 Crores in 2018-19.
