VISTARA Crosses USD 1 BILLION Revenue Mark In FY23

VISTARA Crosses USD 1 BILLION Revenue Mark in FY23

The second largest domestic airline in India in 2022 with 10% market share

Over 11 million passengers flown in 2022; a year-on-year increase of over 85%

Capacity grew over 180% for international and over 50% for the domestic networks in 2022

Recorded 2nd highest on-time performance and over 85% load factor for most of the year in 2022

New Delhi: 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 its inception, the airline reported a net profit (excluding unrealized foreign currency loss and non-operating income) for the quarter that ended in December 2022.

The airline crossed the US$1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported a break-even for the first time in the quarter that ended December 2022.

The airline achieved the 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 an 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 that 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 the 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 the 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 the delivery of 10 aircraft and the re-delivery of eight aircraft, the airline expanded its fleet size to 53 in 2022.

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