Vistara’s loss widens to Rs 1,814 cr in FY20 on higher running costs
Vistara’s pre-tax loss widened to Rs 1,814 crore in FY20, against Rs 831 crore in FY19 due to higher operating costs.
The revenue grew 58 per cent to Rs 4,738 crore as the airline inducted planes and expanded its network but high costs and muted passenger demand in the fourth quarter impacted results.
This is the highest single-year loss for Tata Sons-Singapore Airlines joint venture since its began operations in 2015.
The revenue and loss figure is mentioned in Tata Sons’ 2019-20 annual report. The two joint venture partners have been funding the airline to support the airline’s growth plans. The annual report mentions that Tata Singapore Airlines (Vistara) has a share capital of Rs 5,320 crore, and negative reserve and surplus of Rs 4,477 crore.
