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Vistara marks first profitable quarter in Q3 since inception
Vistara, a joint venture of Tata Sons and Singapore Airlines, has reported a net profit (excluding unrealized foreign currency loss and non-operating income) for the quarter ending December 2022, the airline said in a statement on January 23. Vistara carried 33.06 lakh passengers in the October-December quarter garnering a market share of 9.2 percent, according to data by the Directorate General of Civil Aviation. The full-service carrier crossed the $1 billion revenue mark and remained EBITDA (earnings before interest, taxes, depreciation, and amortization) positive in the current fiscal year. The airline also reported break even for the first time in the given quarter, it said. In Q3FY23, the airline grew its capacity by 37 percent and passengers by 47 percent compared to the same period last year. Source -https://www.moneycontrol.com/news/business/vistara-marks-first-profitable-quarter-in-q3-since-inception-9918101.html
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