New Delhi, July 28 (IANS) Tata Group-owned Air India and its low-cost subsidiary Air India Express reported a combined net loss of Rs 22,238 crore in FY26, more than double the Rs 10,859 crore loss recorded in the previous financial year, even as their combined revenue declined nearly 9 per cent.
According to the airlines’ annual reports, the combined revenue stood at Rs 71,870 crore in FY26.
Air India posted revenue of Rs 51,452 crore and a net loss of Rs 15,368 crore, while Air India Express reported revenue of Rs 19,088 crore and a net loss of Rs 6,767 crore.
Air India is currently owned 73.82 per cent by Tata Sons, 25.1 per cent by Singapore Airlines and 1.08 per cent by employees under a share benefit scheme created during the airline’s privatisation in 2022.
Addressing shareholders, Air India Chairman N. Chandrasekaran said the carrier’s transformation should be viewed as a long-term exercise, stressing that building a world-class global airline cannot be achieved within a few quarters.
“Every great airline in history was built over decades, not quarters,” Chandrasekaran wrote in his message to shareholders.
He said Air India’s transformation should be seen as a five- to 10-year journey, given the condition in which the airline was acquired, prolonged supply chain disruptions affecting aircraft components, the need to modernise legacy systems and processes, renew the fleet, reshape the organisational culture and build a large pool of skilled technical and aviation professionals.
However, his comments indicate that the airline’s turnaround is likely to take longer than initially anticipated as the Tata Group continues its multi-billion-dollar investment to revive the national carrier following its acquisition from the government in 2022.
Earlier in the month, Air India had appointed UK-based aircraft marketing and asset management firm Skytech-AIC to oversee the sale of six Airbus A319 aircraft.
–IANS
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