India’s flag carrier, Air India has posted impressive growth revenue figures for the month of March. The airline, a premier choice among those booking flights to India, registered a 46 % revenue growth in the month over the same period last year.
There is good news for the Indian aviation industry as country’s flag carrier registered a healthy 46 per cent revenue growth in the month of March over the same period last year, as conveyed by the airline sources.
“The yields on domestic sector had significant improvement of 38.5 per cent in March vis-à-vis last year. The seat factor during this period also increased nearly 7.9 per cent. Consequently, the airline posted a healthy growth in revenue of 46.1 per cent,” the source was quoted in Indian media reports.
Air India has put in good performance even on the international routes. The airline has clocked around 33 per cent growth in passenger revenue on international operations. It seems more people are willing to trust the country’s national airline when it comes to inbound and outbound flights to India.
“For the quarter ending March this year, the passenger revenue showed an improvement of 36.1 per cent, besides a 15.7 and 23 per cent rise in seat factor and yields respectively over the same period last year,” country’s leading financial daily quoted the source.
The sources added that on a cumulative basis, the revenue for fiscal 2012 registered a growth of 13 per cent with load factor of 5.7 per cent.
The figures came out few days after the Indian Government sanctioned the much anticipated turnaround plan and a financial restructuring plan involving a Rs 30,000-crore equity infusion over the next eight years and a debt recast (CDR) of Rs 21,200 crore.
This restructuring plan is sure to offer reprieve to Air India from its debt servicing obligations on working capital loans in the form of a considerable reduction in interest outlays, while giving it the much needed time to perk up its operational efficiency.
A healthy Indian aviation sector is good news of the entire world. India, being a popular holiday destination and an emerging business hub, commands much respect in the global tour and travel industry. Almost every major global carrier offers India connections, tickets on cheap flights to India are always in demand and with a promising aviation scene, things can really turn out to be very rosy for the tourism industry.