Vistara has reported its first quarterly profit in its eight-year as the airline is seen emerging from the pandemic woes and ready to merge with its parent Air India. The airline announced that it has had a profitable third quarter, from October-December 2022 and has already crossed $1 billion in revenue this financial year.
Vinod Kannan, Vistara’s Chief Executive Officer, 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. Each member of the Vistara family is incredibly proud of our collective achievements in an extremely challenging business environment that included the third wave of the pandemic and escalating costs. We are now aiming for higher goals as we enter the next phase of our growth journey.”
The airline profit comes at a time when what is considered one of the busiest travel periods in India as passengers have come out in huge number post-pandemic. Besides Vistara started seven new routes to three international destinations, Abu Dhabi, Jeddah, and Muscat.
Vistara’s domestic network also grew by 50%, with several new destinations on its map, like Jaipur and Coimbatore. It also saw a capacity increase of 37% and a passenger increase of 47% compared to the same period a year before.