Vistara will have 70 aircraft in its fleet by mid-2024: CEO Vinod Kannan

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Full service carrier Prospect will continue to expand and expects to have a total of 70 aircraft by mid-2024, the chief says Vincent Kannan said Tuesday. The airline, a joint venture between Tata sons and Singapore Airlines reported an operating profit for the first time since inception in the three months ending December 2022.

Mid next year, Kannan said it will have a total of 70 aircraft, including 7 Boeing 787s.

Of the total of 70 aircraft, there will also be 10 A321s and 53 A320 neos, Vistara’s CEO said at a briefing.

Of the 53 A320 neos, 10 aircraft will be all economy class and the rest three classes.

Currently, the airline has a fleet of 53 aircraft.

“We will continue to expand… more international routes (to be added),” said Kannan.

Without disclosing the exact December quarter profit figure, the airline also said it passed the $1 billion revenue mark and EBITDA remained positive in the current fiscal year.

EBITDA refers to earnings before interest, Taxesdepreciation and amortization.

“For the first time since its inception, the airline reported net profit (excluding unrealized currency loss and nonoperating income) for the quarter ending December 2022,” Vistara said in a press release on Monday.

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