Air India has recorded significant improvements in its performance parameters, estimating a huge 44 per cent slash in its operating losses in 2013-14 and an almost 20 per cent growth in its operating revenue since the previous financial year.
While the national carrier expects a 14.5 per cent rise in passenger revenue in 2013-14 to reach Rs 14,300 crore, its operating revenue is expected at Rs 19,200 crore, an increase of 19.6 per cent compared to the previous financial year, latest official estimates said.
Air India was also able to reduce its operating losses by 44 per cent to Rs 2,100 crore compared to Rs 3,800 crore in 2012-13, the estimates drawn up for the financial year's closure showed.
Official sources said the airline continues to be EBITDA (earnings before interest, taxes, depreciation, and amortisation) positive in 2013-14 and was expected to show a significant improvement over the previous year.
In 2014-15, they said Air India has projected passenger revenue earnings of Rs 16,400 crore, a growth of 14.5 per cent over 2013-14 and an operating revenue of Rs 21,300 crore.
The airline's domestic load factor also shot up to 75.8 per cent vis-a-vis 73.7 per cent achieved in 2012-13. Its international load factor was 73 per cent vis-a-vis 71.8 of the previous year, the figures showed.
In terms of number of passengers carried, Air India flew 15.3 million passengers as against 14.10 million the previous year. Along with its subsidiary company Air India Express, the national carrier flew 17.3 million passengers in 2013-14.
In spite of the fare wars unleashed particularly by the no-frill competitors, Air India was able to not only sustain its yield but increased it on both international and domestic routes, the sources said.
Air India's yield per kilometre for international traffic improved to Rs 3.60 and to Rs 6.08 on domestic routes.