The ailing Air India is moving towards a turnaround and expecting even better performance after narrowing June quarter loss to Rs 246 crore from Rs 316 crore in the year-ago period.
"Yes, we are definitely moving towards that turnaround. Last year it was good. This year would be better. Next year should be even better. We narrowed our June quarter loss to Rs 246 crore from Rs 316 crore in the corresponding quarter last year," Air India Chairman Ashwani Lohani told reporters after inauguration of the airline's new booking office here.
Air India's operational margins were affected by intense fare war unleashed by private carriers during the first quarter of this fiscal, leading to the state-run carrier posting operational loss of Rs 246 crore.
Asked how long it would take for Air India to come out of losses, Lohani said he cannot give a specific timeline due to factors relating to the market.
"I can't give a specific time because a lot of things aredecided by the market. The ticket prices are decided by themarket. However, we would try to improve our services or efficiency," he said.
To a query, Lohani admitted that the market share ofthe airliner has gone down domestically, but internationally it was a big player.
Lohani said Air India plans to regain domestic market share by going in for huge induction in domestic segment in next one year.
"In next one year, there is going to be a huge induction in domestic segment, and with that induction we are going to regain our market domestic market share," he said.
On tapping international market, Lohani said the airliner will have nine brand new aircraft - six Dreamliners and three Boeing 777 - in the next two years.
"We initially had ordered 27 Dreamliners, of which only 21 have joined our fleet. There are six more going to join in next one year. Besides, we have a pending order of three Boeing 777, which has been confirmed, and will join us in 2018," he said.
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