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Vistara reports net profit, crosses $1 billion revenue mark in FY23

Vistara Launches Direct Flights Between Mumbai-Paris
  •  Second largest domestic airline in India in 2022 with ~10% market share
  •  Over 11 million passengers flown in 2022; year-on-year increase of over 85%
  • Capacity grew over 180% for international and over 50% for domestic network in 2022
  •  Recorded 2nd highest on-time performance and over 85% load factor for most of the year in 2022

Vistara, India’s finest full-service carrier and 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 inception, the airline reported a net profit (excluding unrealized 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 break even for the first time in the quarter ended December 2022.

10 best airlines in the world for on-time performance 2022.(Opens in a new browser tab)

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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, by adding seven additional routes including three new destinations (Jeddah, Abu Dhabi and Muscat). It also grew its domestic network by over 50%, 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% and passengers by 47% compared to the same period last year.

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World’s first net zero transatlantic flight to fly from London in 2023(Opens in a new browser tab)

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. 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.

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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 delivery of 10 aircraft and re-delivery of eight aircraft, the airline expanded its fleet size to 53 in 2022.

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Qantas Grapples with $66 Million Fine After “Ghost Flights” Scandal

Qantas Grapples with $66 Million Fine After "Ghost Flights" Scandal

Qantas, the renowned Australian airline, finds itself in the midst of a significant controversy, agreeing to pay a hefty $66 million fine in the aftermath of what has been dubbed the “ghost flights” scandal.

The scandal revolves around accusations that Qantas continued to sell seats on flights that had long been cancelled, leaving passengers in the lurch. Australia’s competition watchdog revealed that Qantas had confessed to misleading consumers by advertising seats on tens of thousands of flights, despite the fact that these flights had been cancelled.

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This compensation scheme will see domestic customers receiving $225 and international customers receiving $450. Qantas emphasized that this compensation is in addition to any refunds or alternative flight arrangements that may have already been offered to impacted passengers.

Affected customers will be notified via email starting next month, outlining the process for lodging a claim. Further details can be found at www.qantasremediation.deloitte.com.au. Vanessa Hudson, Qantas’ chief executive, expressed regret over the airline’s failure to meet its own standards and acknowledged the disappointment experienced by customers.

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As part of the agreement, Qantas has pledged not to engage in similar conduct in the future. Additionally, the airline has committed to promptly informing customers of cancelled flights, ensuring that notifications are issued within 48 hours of the decision to cancel. Furthermore, Qantas will cease selling tickets for such journeys within 24 hours of cancellation.

This commitment extends to Qantas subsidiary Jetstar as well. The Australian Competition and Consumer Commission (ACCC) and Qantas will seek approval of the proposed penalty from the Federal Court. However, Qantas intends to initiate the remediation process before the court approval is obtained, signaling a proactive approach to addressing the fallout from the scandal.

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Air India Resumes Non-Stop Delhi-Zurich Route After 25 Years

Air India Resumes Non-Stop Delhi-Zurich Route After 25 Years

After a prolonged absence, Air India is set to make a comeback at Zurich Airport with the launch of its non-stop service between Delhi and Zurich.

This move not only marks the airline’s reentry into Switzerland but also expands its presence in mainland Europe to seven cities, reaffirming its commitment to global connectivity. According to an official press release, Air India will deploy its two-class configured Boeing 787 Dreamliner aircraft for the Delhi-Zurich route.

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Operating four times a week on Mondays, Wednesdays, Fridays, and Sundays, the flights aim to cater to both business and leisure travelers. The modern Boeing 787-8, equipped with 256 seats, promises a comfortable and efficient travel experience for passengers.

Flight schedules have been strategically designed to accommodate diverse travel needs. Departing from Zurich at 8:50 pm, the aircraft arrives in New Delhi at 08:05 am the following day, facilitating convenient connections for travelers. Conversely, flights depart from New Delhi at 2:05 pm, landing in Zurich at 7:15 pm, offering seamless travel options for both inbound and outbound passengers.

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Air India’s return to Zurich comes after a hiatus of nearly three decades since its last scheduled services to the Swiss city in 1997. Campbell Wilson, Chief Executive Officer and Managing Director of Air India, expressed enthusiasm about the new route, highlighting its significance in strengthening bilateral ties between India and Switzerland.

Wilson emphasized the robust economic relationship between the two countries, with numerous Swiss companies operating in India, Indian companies in Switzerland, and a thriving Indian diaspora.

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It’s worth noting that Air India‘s entry into Switzerland complements the existing connectivity provided by Swiss International Air Lines (SWISS), the home carrier, and Star Alliance partner. SWISS already offers daily flights connecting New Delhi with Zurich, further enhancing travel options between the two nations.

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Air India’s First A320neo Emerges with New Livery from Paintshop

Air India's First A320neo Emerges with New Livery from Paintshop

Air India, the flag carrier of India, recently unveiled its much-anticipated new livery with the rollout of the first Airbus A320neo from the paint shop.

While the airline had been consistently inducting A320neos in its traditional livery, this marked a significant departure as the aircraft emerged adorned in the fresh design. Originally, the debut of the new livery was earmarked for the A350-900, which joined Air India’s fleet in December 2023.

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However, enthusiasts were pleasantly surprised when the new branding was spotted gracing an A320 aircraft in France, hinting at an imminent shift. Identifiable by the distinctive tail sign beginning with VT-RT*, these aircraft now include the new livery as part of Air India’s rebranding efforts.

Notably, the latest addition to this lineup, an A320neo configured entirely in an economy layout, made its debut outside the paint shop at Airbus‘ Toulouse facility. In a nod to the esteemed Tata, the tail sign of this freshly painted A320neo will bear VT-RTN, symbolizing a tribute to his legacy. This move underlines the deep-rooted connection between Air India and the Tata Group, with the latter playing a pivotal role in the airline’s history.

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The revamped livery incorporates modern elements, including the distinctive black eyemask feature reminiscent of the A350 aircraft. This infusion of contemporary design elements is aimed at aligning Air India’s visual identity with current industry standards while retaining its heritage.

Recently, Air India is set to embark on a new era of international travel with the introduction of its state-of-the-art Airbus A350-900 jets.

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The airline has chosen Dubai as the inaugural international destination for these cutting-edge aircraft, marking a significant milestone in its journey toward modernization and enhanced passenger experience. Commencing from May 1st, 2024, Air India will operate the A350-900 daily on the prestigious Delhi-Dubai route, flight numbers AI995/996.

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