Alliance Air reports first operational profit since inception
NEW DELHI : Alliance Air, a wholly owned regional subsidiary of Air India Limited, has reported a ₹65.09 crore operating profit for financial year 2019-20 — its first since its inception in 1996 — despite reporting an overall net loss of ₹201 crore for the year, the company said in a statement on Thursday.
The airline’s total revenue stood at ₹1181.15 crores during 2019-20, on the back of an EBITDA of ₹482 crore.
The net profit of the airline would have touched ₹37 crore but for the adoption of the new accounting standard IND AS 116, the company added.
