Tuesday, October 18, 2022

Air India eyes 30% of aviation market share in next 5 years

Air India is eying 30 per cent share in domestic and international markets in the next five years, the Tata Group-owned airline's MD and CEO Campbell Wilson said on Tuesday.

At present, the airline has a domestic market share of 10 per cent and an international market share of 12 per cent.

Air India, which was acquired by Tata group in January, is in the process of expanding its fleet and services.

Wilson described the revival of Air India as not a "T20 match" but a "Test match". The airline firstly aim to restore its reputation, he said, adding "We have evidence to indicate that the progress is being made".

A revival plan for the loss-making carrier, named 'Vihaan.AI', is currently under way. It is a comprehensive transformation plan that lays out a road map for next five years.

Under this plan, the airline is working on getting grounded planes back in the air, procuring spares, and general refurbishing.

There are reports that Air India has a host of issues such as broken seats and service-related issues in some wide-body planes. Responding to these reports, the Air India chief said the company was hopeful of "getting all business class seats in wide body aircraft in good working order by the end of this month and all the economy class seats by early next year."

On when the airline's financial turnaround is expected, Wilson said it is going to be a culmination of many things.

Many wide-body planes have already been refreshed and many contracts have been renegotiated, Wilson said. Regarding the matter of financial turnaround, he said it would be "a culmination of many things".

Air India has also doubled the number of people at call centres to reduce the turnaround time, he added.

18/10/22 Economic Times

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