New Delhi–Air India and its low-cost subsidiary Air India Express reported a combined net loss of Rs 22,238 crore in fiscal 2026, more than double the Rs 10,859 crore loss recorded a year earlier.
The Tata Group-owned airlines generated combined revenue of Rs 71,870 crore during the year, down nearly 9%, according to their annual reports.
Air India reported revenue of Rs 51,452 crore and a net loss of Rs 15,368 crore. Air India Express posted revenue of Rs 19,088 crore and a net loss of Rs 6,767 crore.
Air India is 73.82% owned by Tata Sons, while Singapore Airlines holds a 25.1% stake. Employees own the remaining 1.08% through a share benefit plan established during the airline’s privatization in 2022.
Air India Chairman N. Chandrasekaran told shareholders that the airline’s transformation should be viewed as a long-term effort rather than a turnaround that can be completed within a few quarters.
“Every great airline in history was built over decades, not quarters,” Chandrasekaran wrote.
He said rebuilding Air India would likely take five to 10 years because of the condition of the airline when it was acquired, persistent supply-chain disruptions, the need to modernize outdated systems and processes, fleet renewal requirements and efforts to reshape the company’s culture.
The airline must also build a larger pool of skilled technical and aviation employees, he said.
The remarks suggest Air India’s turnaround could take longer than initially expected as Tata Group continues investing billions of dollars to revive the former state-owned carrier, which it acquired from the Indian government in 2022.
Earlier this month, Air India appointed U.K.-based aircraft marketing and asset-management company Skytech-AIC to manage the sale of six Airbus A319 aircraft. (Source: IANS)
