Air India Express reported its highest-ever annual net profit of Rs Rs4.13 billion for the financial year ended March 2020 as higher operating revenue and passenger volume helped bolster the bottom line of the budget carrier.
The airline, which is up for sale along with its parent Air India, had posted a net profit of Rs1.69 billion in 2018-19 fiscal, according to a release.
During the last financial year, Air India Express flew 11 per cent more passengers at 4.84 million as against 4.36 million passengers in 2018-19 fiscal while Passenger Load Factor (PLF) rose to 5 per cent.
According to the release, about 4.66 million of these passengers travelled on international sectors, taking the airline’s share of traffic to/ from India to 7.1 per cent in the previous fiscal. The same stood at 6.5 per cent in 2018-19 fiscal.
PLF or seat factor is a measure of how much of an airline’s passenger carrying capacity is used or average percentage of seats filled in an aircraft.