{"id":25561,"date":"2022-08-11T18:07:40","date_gmt":"2022-08-11T12:37:40","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=25561"},"modified":"2022-08-11T18:08:16","modified_gmt":"2022-08-11T12:38:16","slug":"vistara-airline-airasia-india-report-increased-losses-in-financial-year-2022","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/08\/11\/vistara-airline-airasia-india-report-increased-losses-in-financial-year-2022\/","title":{"rendered":"Vistara airline, AirAsia India report increased losses in financial year 2022"},"content":{"rendered":"\n

The last financial year took a heavy toll on the airlines’ balance sheets.<\/strong><\/p>\n\n\n\n

Two more airlines under India\u2019s Tata brand shared their results for the last financial year \u2013 AirAsia India and Vistara. Like their bigger sibling Air India, both airlines also said raised losses mainly due to successive COVID waves, increasing fuel prices, and depreciation of the Indian rupee against the US dollar.<\/strong><\/em><\/p>\n\n\n\n

Tata Group and AirAsia Investment Limited<\/h2>\n\n\n\n

Established in 2014 as a joint venture between the Tata Group and AirAsia Investment Limited,<\/a> AirAsia India initially had 51% ownership from Tata, which was increased to 83.67% in 2020.<\/p>\n\n\n\n

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AirAsia | Aviationa2z.com<\/strong><\/figcaption><\/figure>\n\n\n\n

The airline has had a rough couple of years due to the pandemic, with its loss rising by 42% on a year-on-year basis to almost $275 million. Its revenue grew by almost 39% to $238 million, but a 67% hike in aviation turbine fuel and a weakening Indian rupee against the US dollar impacted the overall numbers.<\/p>\n\n\n\n

Last year, AirAsia India posted an annual loss of $193 million, almost double the previous year, and a revenue of $171 million.<\/p><\/blockquote><\/figure>\n\n\n\n

It has been shrinking its operations and returned seven Airbus A320 planes to AirAsia Berhad, according to the Business Standard, and currently has a fleet of 26 A320s, per ch-aviation.<\/p>\n\n\n\n

Tata Group\u2019s full-service carrier Vistara also struggled in the last fiscal. Its losses increased by 35% to $256 million on a year-on-year basis, while revenues grew more than twice to $659 million.<\/p>\n\n\n\n

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