AirAsia India loss rises 95% to Rs 1,533 cr in FY21; Vistara’s loss narrows

AirAsia India’s losses nearly doubled to Rs 1,533 crore on a year-on-year basis in FY21 while those of Vistara narrowed down to Rs 1,612 crore in the same period, according to company filings.

Air travel in FY21 was marred by Covid-19 pandemic, which led to two-month suspension of flights, grounding of fleet and losses. Domestic air traffic slipped to seven-year low last year and the recovery has been gradual due to state-wide restrictions and testing.

For the Tata Group airlines, it was a year of mixed fortune. While its operating loss increased, Vistara’s net loss reduced from Rs 1,814 crore in FY20 to Rs 1,612 crore in FY21 due to foreign exchange gains.