Air India losses swell in ‘most challenging’ year

Air India recorded its largest ever net loss of Rs222.4 billion ($2.3 billion) for the fiscal year ending March 31, marking a particularly difficult period for the airline. This substantial financial setback is attributed to three significant external headwinds that significantly hampered the progress of Air India's business transformation program. The Tata Group acknowledges that this restructuring initiative has been slower than anticipated, contributing to the company’s struggles. These challenges have impacted the Star Alliance operator’s ability to achieve planned operational improvements and revenue growth targets. Consequently, Air India faced unprecedented losses during what was described as its ‘most challenging’ year to date.