Air India plans to bring down its losses by 40 per cent to Rs 2,000 crore in FY17 from the projected Rs 3,529 crore in FY16 on the back of revenue growth and cost optimisation. The airline’s board, led by Chairman and Managing Director Ashwani Lohani, has finalised the budget estimates for FY17.
Passenger revenue for FY17 is projected to be around Rs 17,000 crore, up from the estimated Rs 15,500 crore in FY16, due to network expansion and improvement in load factor (capacity use). Air India also plans to add flights to Delhi-Washington and Ahmedabad-London-Newark routes.