NEW DELHI: Air India is likely to enjoy acche din, as its low-cost international subsidiary Air India Express has turned the corner by reporting net profits for the first time since it started operations in April 2005.

The airline reported a profit of Rs 362 crore during the 2015-16 fiscal, helped by lower fuel prices and improved revenues over the past year on the back of flying more people per flight. The airline had incurred losses of Rs 62 crore during the 2014-15 fiscal.

Boeing's fuel-efficient 787 aircraft has helped government-owned Air India (AI) achieve operating profit, said Dinesh Keskar, the plane maker's senior vice-president (sales) for the Asia-Pacific.

“The 787 aircraft is a key part of AI's turnaround strategy. It has been able to lower its loss and enhance profitability, owing to fuel savings and reduced maintenance cost offered by the aircraft,” Keskar said on the sidelines of an Indo-American Chamber of Commerce event.

Air India’s plans of converting Rs 10,000 crore debts into equity will give a much needed push its ambitious turnaround plan of becoming profitable by FY2018.

On Monday, The Economic Times reported that the state-run carrier is looking to convert its debt into equity through the Sustainable Structuring of Stressed Assets or S4A scheme.

Sakshi Malik has become the country's new hero. After the Haryana wrestler clinched bronze in the Repechage round, no opportunity is being spared to give the country's first medalist at Rio Olympics a champion's welcome.

Apart from being promised cash prizes from the Haryana government and Railways ministry, the Indian National carrier, Air India, on Friday offered two complimentary business class tickets to Sakshi and her companion.

The government has assured Air India of financial and other assistance urging the carrier to meet the targets spelt out in the new turnaround plan. The state-owned airline must improve on time performance (OTP), passenger load factor (PLF), capacity growth and monetise assets.

Air India chairman and managing director Aswani Lohani is understood to have asked the government to waive the guarantee fee charged to secure the airline’s loans and bonds.

Air India has finally succeeded in roping-in a private airline to use the maintenance repair overhaul (MRO) facility at the SEZ in Mihan in Nagpur.

An MoU was signed by Air India Engineering Services CEO H R Jagannath and Spicejet vice president Arun Kashyap in the presence of top AI officials here yesterday.

India's Independence Day is just around the corner. And it's the time when retailers, e-commerce websites and airline companies announce hefty holiday discounts to cash in on the festive mood.

With I-Day only six days away, in the aviation sector, so far SpiceJet and Air India have announced discounted fares.

Government-run Air India on Wednesday rejected the charge that it was driving air fares down by offering cheaper ticket prices for the last minute travel against the industry's practise of increasing them manifold.

"We are not driving down air fares. We are only filling empty seats by lowering last minute air fares to the level of AC-II class ticket prices of Rajdhani trains," Air India Chairman and Managing Director Ashwani Lohani told reporters on the sidelines of an event here.

To revive the khadi industry, Indian Railways and Air India are being encouraged to use products made up of the fabrics in trains and aeroplanes even as the KVIC’s sales grew 24 per cent in 2015-16, Parliament was today informed.

“Yes Sir. Indian Railways and Air India are being encouraged to use khadi fabrics in order to promote Khadi industries,” Minister of State in the MSME Ministry Giriraj Singh said in a written reply in Rajya Sabha to a query on whether the government is taking any steps to promote khadi in these two entities.

HYDERABAD: Air India may recruit about 500 pilots and over 1,500 cabin crew in next two to three years to meet the requirement as the fleet size is expected to increase considerably, a senior official has said.

"We are planning to have 700 more pilots in the next two to three years keeping in view the fleet expansion. From last August till now, we have already recruited 250 pilots. So about 500 more pilots we are going to recruit.

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