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Vistara reports first ever quarterly profit since inception in Oct Dec quarter

Vistara reports first ever quarterly profit since inception in Oct-Dec quarter

Vistara reports first ever quarterly profit since inception in Oct-Dec quarter
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By Asmita Pant  Jan 23, 2023 2:54:07 PM IST (Published)

Vistara registered a 11 percent year-on-year growth in the member base for its frequent flyer program – Club Vistara. In calendar year 2022, the airline flew more than 11 million passengers. 

The joint venture of Tata Sons and Singapore Airlines, Vistara on Monday reported that it crossed the $1 billion revenue mark and remained EBITDA positive in the current fiscal year. The airline also reported break even for the first time in October-December quarter.

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Vistara registered a 11 percent year-on-year growth in the member base for its frequent flyer program – Club Vistara. In calendar year 2022, the airline flew more than 11 million passengers. For the December quarter, the airline grew its capacity by 37 percent and posted a 47 percent rise in passengers compared to the same period last year.
Earlier in July 2022, the airline achieved highest ever domestic market share of 10.4 percent. The airline has maintained its second position in terms of domestic market share since then.
At present, Vistara has over 5,000 employees and operates close to 8,500 flights per month. The airline recorded second highest on-time performance at four key metros and over 85 percent domestic load factor for most of the year.
Vistara grew its international network by over 180 percent in 2022, by adding seven additional routes in its portfolio. These includes three new destinations — Jeddah, Abu Dhabi and Muscat. The airline grew its domestic network by over 50 percent, adding six new routes including two new destinations — Coimbatore and Jaipur.
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