Air India was once the largest operator in the Indian subcontinent with a market share of over 60%. Indifferent financial performance and service, labor trouble, along with the disastrous merger with Indian Airlines pushed it to fourth place in India, behind low cost carriers like IndiGo, Spicejet, and its full service rival Jet Airways. Between September 2007 and May 2011, Air India's domestic market share declined from 19.2% to 14%, primarily because of stiff competition from private Indian carriers. However, after financial restructuring and enforcement of strict rules and regulations, the airlines showed signs of turning around. In March 2013, the airlines posted its first positive EBITDA after almost 6 years. The airlines bolstered its financial and physical performance with a 44 per cent slash in its operating losses in 2013-14 and an almost 20 per cent growth in its operating revenue since the previous financial year. As of January 2014, Air India is the third largest carrier in India, after IndiGo and Jet Airways with a market share of just above 19%.
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