National air carrier Air India has been steadily making improvements in most of the parameters, indicating signs of a financial turnaround by the company by 2017, the Economic Survey 2015 showed. The survey was released on Friday, a day ahead of the first full annual Union Budget.

The positive development comes at a time when the airline company recently declared a profit of Rs 14.6 crore in December, riding on the back of a constantly falling ATF prices which have declined more than 50% over the past 6-8 months. The airline's total revenue rose by 6.5% to Rs 2,070 crore during December 2014 as compared to Rs 1,944 crore in the same period of 2013, the airline officials said.

The survey revealed that during 2014-2015 about 169.47 lakh passengers traveled by Air India flight. In comparison, only 154.06 lakh passengers used the airline service during the previous year. Similar growth was also observed in the past few years. The examination points out that 141.83 lakh, 134.30 lakh, 127.80 lakh and117.50 lakh passengers traveled during the year 2013-14, 2012-13, 2011-2012, 2010-2011 and 2009-2010 respectively.

Most importantly, on the revenue front, the airline has been witnessing constant growth. As per the data available with the government, revenue rose to Rs 418.82 crore during the year 2014-15 fromRs 391 crore, a year ago. The fleet strength too has increased to 99 from 93 in the previous two years.

Air India has been reeling under huge losses since 2007 when its domestic and international operations were merged. In April 2012, the government approved a turnaround plan (TAP) through which it announced entailing an equity infusion of around Rs 30,000 crore into the airline till the year 2020, subject to the national carrier meeting certain decided standard of milestones.