AI's market share soars: 27pc domestically, 24pc globally
Mumbai: Air India increased its market share in FY24 compared to the previous year, with domestic share rising to 27pc from 24pc and international share climbing to 24pc from 21pc, fueled by network expansion and improved services.
Operating revenue grew by 25pc, while losses were cut by more than half year-on-year, according to CEO Campbell Wilson in an internal communication to staff obtained by newspaper. He further noted that this "strong momentum" has persisted through the first half of FY25.
He also said, "the integration of cargo units into a single business entity with a state-of-the-art Cargo Management System" has begun.
Newspaper had last month reported that the airline will integrate the cargo businesses from AIX Connect, Vistara, Air India Express and Air India into one.
Regarding FY25, he noted, "The initiatives we implemented are showing early results, encouraging us that our efforts are paying off."
Further, "work has continued at pace since the FY ended," and stressed that "strong momentum is crucial for being World Class and financially successful," he said. He was addressing employees on the second anniversary of the 5-year Vihaan.AI transformation journey.
The airline has hired 9000 employees in two years, taking the count to 18000.
The Air India Group comprises Air India, Vistara, Air India Express, and AIX Connect (formerly AirAsia India). In 2022, the Tata Group took over Air India and Air India Express from the Indian government. Tata Group's Vistara, in which Singapore Airlines has a stake, is close to merging with Air India to create India's sole full service carrier (FSC), while Air India Express and AIX Connect are merging into a larger low cost carrier (LCC). The group has ordered 470 aircraft, including 370 options.
Speaking about the company's international expansion, Wilson said, it has started long-haul international operations of a brand-new Airbus A350 aircraft between Delhi and London Heathrow, and will introduce it to the US starting November 2024.
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