Air India writes off Rs 7,000 crore but turns Ebitdar positive in FY23

Due to impairments caused by faulty aircraft and engines, as well as its low-cost airline AirAsia India, carrier Air India wrote off an estimated Rs 7,000 crore in the financial year 2022-23 (FY23), according to a report by the Economic Times (ET). However, the airline’s losses decreased and it was Ebitdar (earnings before interest, taxes, depreciation, and amortisation and restructuring or rent costs) positive or, profitable at an operating level, according to executives.

A person was quoted as saying that the net loss was slightly over Rs 2,500 crore. This compares with a loss of Rs 9,556 crore in FY22, the person said.