The airline announced two promotional schemes "New Year Special" and "Lucky First".
The airline elaborated that the offer is valid on flights departing between 8:00 p.m. of December 31, 2015 and 8:00 a.m. of January 1, 2016.
Under the other promotional scheme "Lucky First" passengers travelling in economy or business class on Air India B777 flights on Delhi-Mumbai-Delhi sector will stand a chance to win an upgrade to first class on the same flight.
"A Lucky draw will be held at the boarding gate before the take off," the airline was quoted in a statement as saying.
The scheme is valid for travel between January 1-15, 2016.