Vistara to have 70 planes in fleet by mid-2024: CEO Vinod Kannan

Full service carrier Vistara will continue to expand and expects to have a total of 70 planes by mid-2024, its chief Vinod Kannan said on Tuesday.

In the three months ending December 2022, the airline, a joint venture between Tata Sons and Singapore Airlines, reported an operating profit for the first time since its inception.

Kannan estimated that it will have a total of 70 aircraft, including 7 Boeing 787s, by the middle of the next year.

The Vistara CEO announced at a briefing that there will also be 10 A321s and 53 A320 neos among the total of 70 aircraft.

Ten of the 53 A320 Neos will only have economy class, and the other fifty-three will have three classes.

Currently, the airline has a fleet of 53 aircraft.

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

The airline stated it passed the USD $1 billion sales mark and maintained a positive EBITDA in the current fiscal year without providing the specific profit figure for the December quarter.

Earnings Before Interest, Taxes, Depreciation, and Amortization is referred to as EBITDA.

"For the first time since inception, the airline reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter ended December 2022," Vistara said in a release on Monday.