Vistara, 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 unrealised foreign currency loss and non-operating income) for the quarter ending December 2022.
The airline crossed the US$1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported breaking even for the first time in the quarter ended December 2022.
The airline achieved its 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.
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. We are now aiming for higher goals as we enter the next phase of our growth journey.”