Air India plans to increase its wide-body aircraft order as it looks to strengthen its international operations and improve its financial performance, CEO Tewolde Gebremariam said on Tuesday while acknowledging that the carrier was currently “punching below its weight” in the international marke. He also expressed confidence in a turnaround, saying the airline's return to profitability would happen “very soon”.
"Air India has been punching below its weight, that will change," said CEO Tewolde Gebremariam.
“I am more impatient than shareholders to see Air India turn profitable,” Gebremariam added that the airline had made significant progress in areas such as fleet renewal. However, losses, airspace disruptions and rising costs remain key concerns. “Cost per available seat kilometre is a major concern for us,” he said. He also said Air India would look at rebalancing its hubs and network amid the challenges. On India's aviation potential, he said the country could become a global hub if it did “the right thing at the right time”.
Meanwhile, last month, Gebremariam set up a “multidisciplinary, cross-functional cost savings team” on a full-time basis…