Airlines

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 2^nd 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)

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.

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

The airline recorded 2^nd 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.

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.

Airlines

Air India Express Aircraft Engine Part Falls Outside Delhi Airport; DGCA Orders Probe

Air India Express flight skids off runway while landing at Kochi airport

The Directorate General of Civil Aviation (DGCA) has launched an inquiry following reports that metal fragments were discovered at Delhi’s Indira Gandhi International Airport after an Air India Express flight made an emergency landing on Monday evening.

The emergency landing was prompted by a detected engine fault, but fortunately, the landing was executed safely without any injuries to the passengers.

The situation began when crew members of the Air India Express flight reported an engine issue, leading to the emergency landing. The DGCA has confirmed that a thorough investigation is underway and has directed that the aircraft undergo a comprehensive safety inspection.

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The discovery of metal debris outside the airport has raised concerns, prompting the DGCA to probe whether these fragments are linked to the aircraft involved in the emergency landing. Authorities are particularly focused on whether the metal pieces, which were found near the airport, originated from the same Air India Express flight that experienced engine trouble.

While preliminary assessments suggest that the debris could be a broken blade from an aircraft engine, the exact source remains unconfirmed. The airline has yet to verify if the metal fragments are from their aircraft.

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The Delhi Police, working in conjunction with the DGCA, have initiated their own investigation to determine the origin of the metal pieces. A technical team is set to analyze whether the fragments are associated with the aircraft in question. As the investigation continues, a case has been filed with the airport authority to address the matter.