Air India Expects Consolidated Revenue To Rise To $4 Billion This Fiscal Year

New Delhi: State-run carrier Air India said Wednesday it expects to post a consolidated revenue of $4 billion in the current fiscal year to March 31 as it accrues benefits from its merger with Indian Airlines Ltd.
The flag carrier, which has a fleet of nearly 120 aircraft, is run by the National Aviation Co. Of India Ltd., or Nacil, formed in August after the merger with Indian Airlines.
Prior to the merger, Air India and Indian Airlines had recorded a combined revenue of $3.5 billion in the fiscal year ended March, Air India's Executive Director for Finance, S. Venkat, told Dow Jones Newswires.
Civil aviation ministry officials had earlier said the merger of the two state-run airlines would save more than $200 million in costs through operational synergies by December 2009.
Air India's nearest domestic rival, privately-owned Jet Airways (India) Ltd. said in June its revenue for the previous fiscal year was INR70.58 billion ($1.9 billion).
10/10/07 Dow Jones/CNNMoney.com

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