GoAir is one of the leading airlines of India, based in Mumbai and operated by the Wadia Group. With more than 100 daily flights and around 19 aircraft, it serves over 20 destinations all across the country. The carrier placed an order for over 70 Airbus A320 neo models, which are expected to be delivered in 2015. As per recent reports, this budget airline may soon add international destinations in its service list as it is planning to seek permission of respective authorities regarding overseas flying. The performance graph of GoAir in the previous quarter shows an upward movement in all respects, including the number of flights, routes and revenue.
This low-cost carrier (LCC) is not listed and hence, has to present its annual books in the public in order to give a true picture of the financial status to prospective investors. The company has revealed that so far it made a profit of INR 50 crores and the aim to gain more than 100 crores by the end of this fiscal year. In the last fiscal year, the revenue of this company was close to making a century, and actually crossed INR 100 in the 2013. Giorgio De Roni, Chief Executive Officer (CEO), revealed the fact that cheap GoAir flight tickets and the cargo business contributed significantly in this huge figure.
The CEO said that their aim is to increase revenue over the years as no dramatic change in fuel price has been observed. It is expected that the airline may cross the 100-crore benchmark in this fiscal year. Other airlines are expanding in terms of flights and fleet size, but he said that they want to remain small but profitable. Performance of the carrier is worth praising in the backdrop of losses that Indian aviation industry is facing.
This low-cost carrier (LCC) is not listed and hence, has to present its annual books in the public in order to give a true picture of the financial status to prospective investors. The company has revealed that so far it made a profit of INR 50 crores and the aim to gain more than 100 crores by the end of this fiscal year. In the last fiscal year, the revenue of this company was close to making a century, and actually crossed INR 100 in the 2013. Giorgio De Roni, Chief Executive Officer (CEO), revealed the fact that cheap GoAir flight tickets and the cargo business contributed significantly in this huge figure.
The CEO said that their aim is to increase revenue over the years as no dramatic change in fuel price has been observed. It is expected that the airline may cross the 100-crore benchmark in this fiscal year. Other airlines are expanding in terms of flights and fleet size, but he said that they want to remain small but profitable. Performance of the carrier is worth praising in the backdrop of losses that Indian aviation industry is facing.
No comments:
Post a Comment