Air India expected to post full-year profit
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Air India will post an operating profit for the current financial year, a senior government official has predicted.
The Economic Times reported Civil Aviation Secretary RN Choubey as saying that the national carrier would achieve a small profit, likely to be less than US$1 million.
“Air India is going to report operating profit in this financial year and is expected to be six crore (INR60 million, or approximately US$907,000),” Choubey was reported saying. “The airline is benefiting from fall in crude oil prices and improved operational efficiency,” he added.
The result for the year ending 31 March 2016 would mark a remarkable turnaround for the ailing airline, which posted a net loss INR55.47 billion in the previous fiscal year.
But this year’s sharp decline in fuel prices has benefited airlines across the world. In recent weeks Singapore Airlines and Emirates both posted strong double-digit profit growth for the first half of the financial year, despite falling revenues.
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