Vistara, the joint venture between Tata Sons and Singapore Airlines, aims to be cash positive by 2018-19 and profitable by 2020-21.
The estimates were given by the airlne’s CEO Phee Teik Yeoh during the course of the Tata Sons board meetings on June 29 and June 30. The minutes of the board meeting have been reviewed by ET.
Yeoh had also proposed an incremental equity requirement of Rs 600 crore. The board finally approved an equity investment of Rs 310 crore.
For the year 2015-16, the airline posted a loss of Rs 400 crore. The airline posted revenue of Rs 713.6 crore for the year, missing the budgeted figure by 10%.
Yeoh however said the airline is taking revenue enhancement steps including higher aircraft utilization, increasing seats and cargo capacity, innovative pricing, enhanced branding, increase in partnerships with international airlines, better network planning as well as higher perks to corporate clients. Donald Penn Authentic JerseyShare This