(Excluding unrealised foreign currency loss and non-operating income)
BY TTT NEWS NETWORK
NEW DELHI, 24 JANUARY 2023:
Vistara, India’s finest full-service carrier and a joint venture of Tata Sons and Singapore Airlines, has delivered a strong performance by achieving several key milestones in the year 2022. For the first time since inception, the airline reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter ended December 2022.
The airline crossed the US$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 airline achieved highest ever domestic market share of 10.4% 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% year-on-year growth in the member base for its frequent flyer program – Club Vistara.
Vistara grew its international network by over 180% in 2022, by adding seven additional routes including three new destinations (Jeddah, Abu Dhabi and Muscat). It also grew its domestic network by over 50%, by adding six new routes including two new destinations (Coimbatore and Jaipur). For the quarter ended December 2022, the airline grew its capacity by 37% and passengers by 47% compared to the same period last year.
The airline recorded 2nd highest on-time performance at four key metros and over 85% 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.
Mr. Vinod Kannan, Chief Executive Officer, Vistara, said: “With significant network and fleet expansion and sustained growth over the last few months, 2022 has been a phenomenal year for Vistara, in terms of our operational and financial performance. I would like to take this opportunity to thank all our customers for their consistent support and affection that make us stronger each day and inspire us to work even harder to delight them. Each member of the Vistara family is incredibly proud of our collective achievements in an extremely challenging business environment that included the 3rd wave of pandemic and escalating costs. We are now aiming for higher goals as we enter the next phase of our growth journey.”
Vistara has augmented its operations from its hubs – Delhi and Mumbai, and currently operates more than 75 and 50 daily domestic departures from the two cities, respectively. With delivery of 10 aircraft and re-delivery of eight aircraft, the airline expanded its fleet size to 53 in 2022.
Vistara is India’s highest-rated airline on Skytrax and Tripadvisor and has won several ‘Best Airline’ awards besides being lauded for cabin cleanliness and safety standards. Below is a list of top awards and accolades won by Vistara in 2022.
Key facts and figures –
- Second largest domestic airline in India in 2022 with ~10% market share
- Over 11 million passengers flown in 2022; year-on-year increase of over 85%
- Capacity grew over 180% for international and over 50% for domestic network in 2022
- Recorded 2nd highest on-time performance and over 85% load factor for most of the year in 2022