In the fiscal year 2022-23, Tata Group-owned Air India wrote off around Rs 7,000 crore due to impairments stemming from faulty aircraft, engines, and AirAsia India.

Despite these write-offs, the airline managed to achieve profitability at the operating level, marked by positive earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs.

The turnaround can be attributed to the new management’s focus on operational efficiencies and cost savings. The Tata Group’s involvement in consolidating its aviation businesses also contributed to the positive outcome.

This shift towards profitability is significant for Air India, indicating its commitment to financial health and sustainability under the new ownership. By addressing past impairments and streamlining operations, the airline is positioning itself for a more promising future in the competitive aviation industry.