AirAsia India and Vistara’s losses widened in the financial year ended March 31, 2022 (FY22) on a year-on-year (YoY) basis due to the impact of the Covid-19 pandemic and an increase in operating costs, according to Tata Sons’ FY22 annual report.
While aviation turbine fuel prices jumped around 67 per cent and rupee weakened by 0.4 per cent against the dollar in FY22 over FY21, passenger demand too was impacted by two waves of the pandemic. This had a toll on the airline’s financial results.
AirAsia India’s loss grew 42 per cent on a YoY basis to Rs 2,178 crore, while its revenue rose nearly 39 per cent to Rs 1,887 crore. The airline had a negative reserve and a surplus of Rs 4,849 crore.
