For the first time in seven years, Air India Express reports a net loss of Rs 72.33 crore in FY22, vis-à-vis a net profit of Rs 98.21 crore in FY21, reasoning the pandemic. Nevertheless, the number of passengers flown increased 56 per cent in FY22 to 2.29 million. Air India Express controls the flights largely between India and the Gulf countries.

On January 27, 2022, The Tata group acquired control of Air India and its subsidiary Air India Express. Air India finds a way of being merged with another Tata Group-owned Airline, AirAsia India, as reported by Business Standard.

According to Air India Express’s documents that are filed with the company’s registrar, the second and third waves of the pandemic disadvantaged the market recovery, predominantly in the regional international markets that are the airline’s principal business. There are around 24 Boeing 737 planes in Air India Express’ fleet.

The aggregate income and expenditure in FY22 were Rs 3,522 crore and Rs 3,251 crore, respectively. Many Countries have continued to have fluctuating levels of travel boundaries during FY22, and the budget carrier also mentioned that International flights have continued to be accompanied under VBM, i.e. Vande Bharat Mission and Air Bubble arrangements. The outbreak of the pandemic forced India to suspend international flights from March 2020 to March 2022. Thus due to Covid-19 restrictions, the airline had formed bilateral Air Bubble arrangements collaborating with various nations during this two-year pandemic period.