Air India Net Worth

Air India, now owned by Talace Private Limited- a Special-Purpose Vehicle (SPV) of Tata Sons, is based in New Delhi, India. Its former owner, the Government of India, sold the airline last year in October.

102 local and international destinations are served by the fleet of Airbus and Boeing aircraft operated by Air India. Along with several key locations throughout India, the airline’s hub is located at Indira Gandhi International Airport in New Delhi. With an 18.6% market share, Air India is the biggest airline operating from India. The airline offers service to more than 60 foreign cities on four continents. On July 11, 2014, the airline joined the Star Alliance as its 27th member.

Net Worth

According to the most recent regulatory filings by the airline that Tata Sons purchased from the government earlier this year, Air India, revenue increased by 64% in fiscal 2022, but its net loss increased by a third.

On a standalone basis, the airline reported net revenue of Rs 19,815.9 crore and net loss of Rs 9,556.5 crore for the year ending March 31, 2022. In the financial year of 2021, it had reported a net loss of Rs7,017.4 crore on revenues of Rs12,104 crore. Talace Pvt Ltd, a subsidiary of Tata Sons, won the bidding war for the heavily indebted national carrier with an enterprise value of 18,000 crore last year in October.

100% of Air India, 100% of its overseas low-cost subsidiary Air India Express, and 50% of the ground handling joint venture Air India SATS are owned by the Tata family. In addition to owning 141 aircraft and having access to a network of 173 locations, including 55 abroad, Tatas also owns legendary names like Air India, Indian Airlines, and the Maharajah.

Background:

R. D. Tata launched the airline in 1932 under the name Tata Airlines. Tata himself piloted the company’s first single-engine de Havilland Puss Moth, transporting air mail from Karachi’s Drigh Road Airfield to Bombay’s Juhu aerodrome and eventually continuing to Madras (currently Chennai). It changed its name to Air India after the Second World War and became a public limited business.

It became the first Asian airline to add a jet to its fleet when it received its first Boeing 707, Gauri Shankar, on February 21, 1960. There were attempts to privatise Air India in 2000–2001, and following its merger with Indian Airlines in 2006, it started to lose money. A second attempt at privatisation was made in 2017, and it was successful, with Tata regaining ownership of the airline and any related properties in 2022.

Future

The airline hopes to achieve a 30% market share by 2027 as part of its programme. The airline has signed lease contracts for 30 brand-new aircraft as per its transformation plan named Vihaan.AI, a five-year plan by Air India to become a world-class global Indian carrier with an Indian heart. According to Wilson- the CEO and MD, the company’s fleet growth “will combine both narrow- and wide-bodied aircraft to adapt to different network needs.”

Between December 2022 and March 2023, the carrier will bring five Boeing 777-200LR aircraft into service for use on routes from important Indian metropolises to San Francisco and New York. Then, in Q1CY2023, four Airbus 321 aircraft are expected to enter the fleet, and the 21 A320 aircraft will be added in the second half of the year. On both short-haul domestic and international routes, they will be used. Moreover, it is reported that the airline is thinking about purchasing 300 narrow-body aircraft.

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Air India net worth