Kolkata: After slipping into losses in the last fiscal, low cost carrier Go Airlines (India) or GoAir, is confident to break even in the current financial year. According to chief executive officer of the airline Giorgio De Roni, the company is expecting to clock in a growth of 40% in its topline in FY13. GoAir had a topline of around Rs 1,600 crore in the previous fiscal.
The Wadia Group-owned airline made a net loss of R133.72 crore compared with a net profit of R60.05 crore in 2010-11, according to the company's annual report. The carrier plunged into a loss due to increasing fuel prices, a weak rupee and intense competition which lowered average fares across airlines.
“We had marginal loss in the last fiscal but the first and third quarter of this fiscal have been profitable. So we are confident that we will break even in FY 13,” Roni said. He was in the city to make an announcement on the carrier's three new flying destinations from Kolkata to Ahmedabad, Bagdogra and Guwahati which would start from February 4. Currently, it has daily flights to Delhi and Port Blair from Kolkata. Roni pointed out that by March 2014, it will add three new destinations, but those locations are yet to be finalized.
28/01/13 Digbijay Mishra/Business Standard
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The Wadia Group-owned airline made a net loss of R133.72 crore compared with a net profit of R60.05 crore in 2010-11, according to the company's annual report. The carrier plunged into a loss due to increasing fuel prices, a weak rupee and intense competition which lowered average fares across airlines.
“We had marginal loss in the last fiscal but the first and third quarter of this fiscal have been profitable. So we are confident that we will break even in FY 13,” Roni said. He was in the city to make an announcement on the carrier's three new flying destinations from Kolkata to Ahmedabad, Bagdogra and Guwahati which would start from February 4. Currently, it has daily flights to Delhi and Port Blair from Kolkata. Roni pointed out that by March 2014, it will add three new destinations, but those locations are yet to be finalized.
28/01/13 Digbijay Mishra/Business Standard
