Full-service carrier Vistara, which is part of the Tata Group and is a joint venture of Tata Sons and Singapore Airlines, says it has turned in a record net profit in the quarter ending December 31, 2022 and has delivered a strong performance by achieving several key milestones in the year 2022.
According to a press statement, it also reported a very strong performance in adding to its international network in the year gone by. Vistara grew its international network by over 180 pc in 2022, by adding seven additional routes including three new destinations, namely Jeddah, Abu Dhabi and Muscat. The airline says it also grew its domestic network by over 50 pc, by adding six new routes including two new destinations, Coimbatore and Jaipur.
The airline adds that for the quarter ended December 2022, it grew its capacity by 37 pc and passengers by 47 pc compared to the same period last year.
The press statement adds that for the first time since inception, the airline reported a net profit. It adds that the net profit excludes unrealised foreign currency loss and non-operating income. The airline says that it also crossed the USD 1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported break even for the first time in the quarter ended December 2022.
The statement adds that airline achieved highest ever domestic market share of 10.4 pc in July 2022 and maintained its position as the second largest domestic airline in India since then, flying more than 11 million passengers in the calendar year 2022. Vistara also registered a 11 pc year-on-year growth in the member base for its frequent flyer programme, Club Vistara.
It says that Vistara recorded 2nd highest on-time performance at four key metros and over 85 pc domestic load factor for most of the year in 2022. This year, Vistara became the only Indian airline to be featured in Skytrax’s list of World’s Top 20 airlines. The airline currently has over 5,000 employees and operates close to 8,500 flights per month.