New Delhi: Air India posted an operating loss of around Rs 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials.

The state-run carrier Air India is still the market leader to fly on international routes with more than double the capacity of rival IndiGo, the airline said on Monday. The clarity on the matter comes a day after a report said that the Maharaja has been pipped by IndiGo as the later “now has the largest share of international seats to/from India”, a consultancy firm, Centre for Asia Pacific Aviation (CAPA), said in its report on August 31.

Civil aviation minister Hardeep Puri on Thursday said the government will completely exit Air India, and there is already significant interest among prospective buyers for it. “Air India should be totally privatised. We have to get the best possible deal and we have to get it in the shortest possible time available,” Puri told reporters.

Reaffirming government’s plans to go ahead with the divestment of ailing national carrier Air India, Civil Aviation Minister Hardeep S Puri said that the “government is determined to privatise Air India”. Speaking at a press conference, the minister reiterated that it is not government’s business to run airlines and hence Maharaja must go to a private player. However, the Air India brand will remain Air India, he added.

MUMBAI: Air India Ltd is auctioning more than 60 real estate assets, including some it could not sell at its last auction in April, as the debt-laden national carrier makes a renewed attempt to raise funds.

The last date for submitting bids is 30 August, according to a tender document issued by the airline.

Pakistan has closed a corridor in its airspace, which will result in an additional up to12 minutes of flying time for overseas flights, an Air India official said on Wednesday.

The flights will have to be diverted to other routes due to the closure, the official said.

Air India Express, a regional international arm of national carrier Air India, reported a 35.5% drop in net profit of Rs 169 crore for the fiscal ended March 31, 2019, as compared to Rs 262 crore during the previous year.

The low-cost carrier, which first started its operations in 2004, has been registering profits for four years since 2015-16, though its parent company Air India has been struggling to survive due to huge legacy and operational costs.

Air India is planning to bring all of its 17 aircraft, which have been grounded for a “prolonged” period, back into operation by October-end, its chief Ashwani Lohani has said.

These 17 aircraft have been grounded for time periods ranging from four months to one year due to lack of funds for their repair and maintenance.

Even as the process for disinvestment of national carrier Air India is already set in motion, the government has asked the airline management to start new flights only if it is extremely necessary after due diligence of commercial interest.

The airline has also been asked to put a freeze on large-scale appointments and promotions.

In its second attempt to sell Air India, the central government has put the divestment process on the fast track.

Sources close to the development said the expression of interest (EoI) for divestment of Air India may be out by October.

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