New Delhi, Dec 11 (IANS): Akasa Air’s financial woes intensified in FY 2024-25, with the carrier posting a net loss of Rs 1,986.25 crore, up from Rs 1,669.59 crore in the previous fiscal, the government informed Parliament on Thursday.
In a written reply to the Lok Sabha, Minister of State for Civil Aviation Murlidhar Mohol also revealed that Air India Express saw a sharp jump in losses. After reporting a loss of Rs 163.12 crore in FY 2023-24, the airline slipped further into the red with a steep Rs 5,832.37 crore loss in FY 2024-25 — a stark reversal from its modest profit of Rs 116.32 crore in FY 2022-23.
The data showed a mixed performance across Indian carriers. IndiGo remained the strongest performer, posting a profit of Rs 7,253.3 crore in FY 2024-25, though slightly lower than the Rs 8,167.49 crore profit recorded the previous year. Air India continued its turnaround efforts, narrowing its losses to Rs 3,975.75 crore from Rs 4,444.1 crore in FY 2023-24.
Other carriers such as Alliance Air, Fly91 and Quikjet Cargo remained in loss, while Blue Dart and Star Air reported profits. Responding to concerns over domestic air traffic, the minister said airlines have submitted detailed passenger data for FY 2022-23 to FY 2025-26, indicating no major year-on-year decline. He added that since the aviation sector has been deregulated since 1994, financial and operational decisions — including fundraising and debt restructuring — lie solely with individual airlines.
