AIRINDIAEXPRESS TO BREAKEVEN FROM 2013

Air India Express, which began flying on April 29, 2005, says it aims to break even by 2013. The airline is already showing a cash profit but it could have been in true profit were it not for the 25% revenue sharing agreement with its parent Air India. The airline posted revenue of Rs 1,741 crore in FY09, with a fleet of 25 aircraft. However, it returned three of those planes on lease and after the Mangalore crash the fleet size dropped to 21 aircraft. Subsequently, in FY11, the airline had revenue of Rs 1,726 crore. The airline is prevented