New Delhi, Dec 11 (IANS) Akasa Air’s financial stress continued to grow in the last financial year, with the airline reporting a higher net loss of Rs 19,86.25 crore in financial year 2024-25 (FY25), compared to Rs 16,69.59 crore in the previous financial year, the Parliament was informed on Thursday.
In a written reply to Lok Sabha, Minister of State for Civil Aviation Murlidhar Mohol said that Air India Express also reported a significant jump in losses during the same period. The airline, which had posted a Rs 1,63.12 crore loss in FY 2023-24, recorded a steep loss of Rs 58,32.37 crore in FY 2024-25.
This marks a major setback compared to its small profit of Rs 1,16.32 crore in FY 2022-23. According to the data, several Indian carriers continued to face challenges, though some airlines managed to improve their performance.
IndiGo remained the strongest performer, posting a profit of Rs 72,53.3 crore in FY 2024-25 after earning Rs 81,67.49 crore the year before.
However, the airline's market cap has eroded by over
Air India also narrowed its losses to Rs 39,75.75 crore, a significant improvement from the Rs 44,44.1 crore loss recorded in FY 2023-24.
The minister said that while financial results for FY 2025-26 are not yet available, data for the past three years shows a mixed trend across carriers.
Alliance Air, Fly91, Quikjet Cargo, and others also remained in the red. Blue Dart and Star Air were among the few carriers reporting profits.
Responding to concerns over domestic passenger traffic, Mohol shared that airlines have submitted year-wise and month-wise passenger data from FY 2022-23 to FY 2025-26, and the details are provided in official annexures.
However, he did not indicate any major year-on-year decline in passenger numbers in the House.
On whether the government plans to reduce airline losses or support the sector, the minister clarified that the aviation industry has been deregulated since 1994.
He said operational and financial decisions, including raising funds or restructuring debt, are the responsibility of individual airlines based on commercial needs.
--IANS
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