Vistara delivers record performances, crosses USD 1 billion revenue mark

Vistara 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 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 even for the first time in the quarter ended December 2022.

The airline achieved the highest-ever domestic market share of 10.4 per cent 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 per cent year-on-year growth in the member base for its frequent flyer program – Club Vistara.

Vistara grew its international network by over 180 per cent 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 per cent, by adding six new routes including two new destinations (Coimbatore and Jaipur). For the quarter ended December 2022, the airline grew its capacity by 37 per cent and passengers by 47 per cent compared to the same period last year.

The airline recorded 2nd highest on-time performance at four key metros and over 85 per cent 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 World’s Top 20 airlines. The airline currently has over 5,000 employees and operates close to 8,500 flights per month.

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 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 re-delivery of eight aircraft, the airline expanded its fleet size to 53 in 2022.

Vistara is India’s highest-rated airline on Skytrax and Tripadvisor and has won several ‘Best Airline’ awards besides being lauded for cabin cleanliness and safety standards.