NEW DELHI: Alliance Air, the 1996-founded regional carrier part of Air India group, has reported its first-ever operational profit of Rs 65.1 crore in FY 2019-20.
“The net profit of Alliance Air would have touched Rs 37 crore but for the adoption of the new accounting standard IND AS 116, which resulted in a net loss of Rs 201 crore,” the airline, which is not being sold off along with the parent airline and will remain under the government ownership for now, said in a statement. Its total revenue in FY 20 was Rs 1181.1 crore.
AI CMD Rajiv Bansal said: “Alliance Air has recorded an improved performance in FY2019-20. The number of destinations has gone up to 61 from 55 in the last fiscal. With the increased number of daily departures to 126 against 109 last year, the total number of passengers flown were 16.4 lakh, an increase of 2.5% with a seat factor of 73%. The expanded reach of Alliance Air to smaller towns of our country truly embodies the spirit of the government’s regional connectivity scheme known as UDAN — ude desh ka aam nagrik.”
