Vistara net losses nearly double in FY19 to Rs 831 crore
Net losses at Tata Sons and Singapore Airlines joint venture Vistara nearly doubled to Rs 831 crore in 2018-19 on account of costlier fuel and weaker rupee. The airline had reported a net loss of Rs 419 crore in FY18 while its losses in FY17 stood at Rs 518 crore, according to the data sourced from the Ministry of Corporate Affairs.
Vistara’s operating revenue increased 41% year-on-year to Rs 2,994 crore in 2018-19 as it carried 5.43 million passengers, up 22.6% y-o-y compared with FY18.
Aviation turbine fuel (ATF) costs, on the other hand, jumped 57.6% y-o-y to Rs 1,307 crore, while aircraft lease rents and repair and maintenance costs increased 57.3% y-o-y and 42.5% y-o-y, respectively, during FY19.
