Manufacturing Industry
Indian Airlines reports first profit in four years
Airline Industry Information, Dec 6, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
State-owned domestic carrier Indian Airlines has announced that it has made its first annual profit in four years.
The airline claims to have made an audited net profit of INR441.7m (USD10m) in the financial year ended March 2004, compared with a INR1.97bn loss in the previous year.
The carrier said that operating revenues increased by 13.37% in 2003/04 to INR46.5bn, compared with a 6.81% rise in operating expenses to INR45.25bn.
According to the company the turnaround was achieved by strict cost control, a rise in the number of passengers carried and better fleet utilisation.
Its passenger traffic increased by 5.5% while average aircraft loadings rose to 65.8% of capacity in 2003/04 from 64.6% in the previous year, reports Reuters.
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