The Tata-Singapore Airlines joint venture Vistara’s losses nearly doubled to Rs 831 crore in 2018-19 (FY19) in a tough operating environment, which also saw its peers post weak results.
The airline, however, is expected to improve its financial performance in the current financial year, as it expands its network and gets a boost in premium-class occupancy following the closure of Jet Airways.
Vistara had reported a loss of Rs 431 crore in the previous financial year. The airline’s latest loss figure is mentioned in Tata Sons’ annual report for 2018-19. The report does not give the details of revenue and break-up of expenses.
While the airline’s capacity and revenue rose as it added two planes and carried five million passengers in FY19, losses widened due to an increase in crude oil prices and a weak rupee. Read More