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

Tata-owned Air India wrote off an estimated ₹7,000 crore in FY23 as part of impairments stemming from the carrier’s faulty aircraft and engines as well as low-cost airline AirAsia India, people aware of the matter said. Losses shrank and the carrier was ebitdar (earnings before interest, taxes, depreciation, amortisation and restructuring or rent costs) positive, or profitable at an operating level, executives said.