Air India Express may post first profit this fiscal year: CEO K Shyam Sundar

Air India Express, the national carrier's low-cost unit, may swing to it's first net profit this fiscal year, on cost savings, better market conditions and reworked contracts, its chief executive K Shyam Sundar said on Wednesday. The airline started operations in 2004.

 "We are likely to post a net profit of about Rs 100 crore on revenue of Rs 2,600 crore," Shyam Sundar said at an event in Mumbai. He said the airline had posted a loss of over Rs 200 crore last year. He didn't mention last fiscal's revenues.

AI Express is headquartered in Kochi and flies primarily to gulf destinations, largely cashing in on the labour traffic flying those routes. It has nine domestic destinations in its network.
Source: http://goo.gl/pFiWJn