Vistara has delivered a strong performance by achieving several key milestones in the year 2022. The airline reported a net profit (excluding unrealized foreign currency loss and non-operating income) for the quarter that ended December 2022.
The airline crossed the US$1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported a break for the first time in the quarter that 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 and its domestic network by over 50%. 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.
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. 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 Crosses USD 1 BN Revenue Mark In FY23
