Mumbai: Deccan Aviation that runs India’s biggest low-priced airline Air Deccan, has recorded 57% increase in net loss to Rs 173.08 crore for the fourth quarter ended June 30, 2007, as against the net loss of Rs 110.2 crore in the same period of the last fiscal (2006).

According to the sources, the company has registered an income of Rs 2,142.31 crore and a net loss of Rs 419.57 crore for the financial year (July 2006 and June 2007).

The sources also said that the company’s overall revenues recorded 98% rise on a normalised annual basis (2005-06 was a 15-month period). For the 15-month period during April 2005-June 2006, the company has registered a loss of Rs 340 crore.

In a statement, Air Deccan CEO Ramki Sundaram said, “Last year was one of challenges and transition, the focal point being optimisation of costs and boosting efficiencies. We are currently in a turnaround mode and putting processes and systems in place to achieve sustainable, profitable growth over the long term.”

Further, Mr. Sundaram added that a number of resourceful ideas in this route would be rolled out shortly.

“We remain steadfast in our strategy to provide efficient and affordable travel by focusing our efforts towards meeting passenger expectations,” he said.

According to the sources, main yearly highlights comprise a fresh issue of shares made to the UB Group comprising 26% of post-issue capital, introduction of six new Airbus A-320 and four new ATR 72-500 aircraft to its fleet, additional of 85 new flights and 10 new terminuses.

The airline claims to have carried 6.8 million riders in the existing fiscal.

Air Deccan in partnership with ATR also opened a combined full flight trainer at Bangalore and introduces its 8th aircraft base in Ahmedabad. The company also united with India Post for sale of tickets and migrated to a new reservation system.