Tata-owned Air India and Air India Express reported a combined loss of ₹9,568.4 crore in FY25, while IndiGo posted a ₹7,587.5 crore profit, government data showed. SpiceJet and Akasa Air also incurred losses. Debt levels remain high across airlines, with IndiGo topping the list. The aviation ministry reiterated that airlines' financial strategies are shaped by commercial decisions.