AI Express expects to break-even by FY13
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Air India Express, the no-frills international arm of the ailing national carrier Air India, is hopeful to break-even by the next fiscal year, a top company official was reported saying.”We are already in cash-profit and expect to achieve break-even by the turn of the 2013 fiscal. We are hopeful of this, as we expect to reap the full benefit of the soon-to-be commissioned hangar at Thiruvananthapuram by then,” a senior official, who requested anonymity, had told PTI.The AIE moved its headquarters to Kochi in December 2010 from Mumbai for better operational efficiency and coordination and the airline got a new headquarters building in February this year, Economic Times reported. The official had also pointed out that the airline could already have been in profit, had it not been for the 25% revenue sharing agreement with the parent Air India. He said that there is likely to be improvement on the revenue front in the current fiscal as expansion plans are hit shortage of aircrafts as well as pilots, preventing them from operating more services with the current fleet strength of 21 planes.
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