Air India, a government-owned carrier, recorded profits for the first time in nine years, according to India&#39;s Economic Survey announced Tuesday (January 31).

This is the first time since Air India merged with Indian Airlines has the stricken carrier found itself in the green.

This year&#39;s 319-page Economic Survey mentioned that the national airline registered a Rs 105 crore (roughly $15.5 million) operating profit in 2015-16.

Air India had suffered Rs 2,636 crore net loss the previous year. But this year, the total income has risen to Rs 20,526 (over $3 billion).

The profit will be a shot in the arm for the Indian government as it pumps in Rs 3,000 crore every year to lift the sagging fortunes of the airline.

It has also thumbed its nose at critics who want government-owned institutions to be divested.

Buoyed by the showing, the report said: &quot;Consider the civil aviation sector. Defying history, there is still the commitment to make the perennially unprofitable public sector airline &lsquo;world class&rsquo;.&quot;

It also said that privatisation was not the sole panacea to ailing firms owned by the government, saying that maximisation of profits cannot elcipse broader social good.

(WION)

This year's Economic Survey said the national carrier registered an operating profit of Rs 105 crore (roughly $15.5 million) in 2015-16

Air India, a government-owned carrier, recorded profits for the first time in nine years, according to India's Economic Survey announced Tuesday (January 31). This is the first time since Air India merged with Indian Airlines has the stricken carrier found itself in the green. This year's 319-page Economic Survey mentioned that the national airline registered a Rs 105 crore (roughly $15.5 million) operating profit in 2015-16. Air India had suffered Rs 2,636 crore net loss the previous year. But this year, the total income has risen to Rs 20,526 (over $3 billion). The profit will be a shot in the arm for the Indian government as it pumps in Rs 3,000 crore every year to lift the sagging fortunes of the airline. It has also thumbed its nose at critics who want government-owned institutions to be divested. Buoyed by the showing, the report said: "Consider the civil aviation sector. Defying history, there is still the commitment to make the perennially unprofitable public sector airline ‘world class’." It also said that privatisation was not the sole panacea to ailing firms owned by the government, saying that maximisation of profits cannot elcipse broader social good. (WION)

Air India records profit for first time in almost a decade

India on Wednesday eased a rule restricting when newer airlines can start flying overseas, Civil Aviation Minister Ashok Gajapathi Raju said. 
 
Raju said on Twitter that airlines would no longer need to wait for the five years of operations earlier required before they can begin flying abroad, but must still have 20 jets in their fleet. 
 
India&#39;s cabinet approved the new national civil aviation policy earlier on Wednesday. 
(Reuters)

The 5-year condition for international flying is relaxed but airlines must have 20 jets

India on Wednesday eased a rule restricting when newer airlines can start flying overseas, Civil Aviation Minister Ashok Gajapathi Raju said. Raju said on Twitter that airlines would no longer need to wait for the five years of operations earlier required before they can begin flying abroad, but must still have 20 jets in their fleet. India's cabinet approved the new national civil aviation policy earlier on Wednesday. (Reuters)

India eases restriction on airlines flying overseas

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Air India records profit for first time in almost a decade

India eases restriction on airlines flying overseas