Bangalore: At a time when domestic airlines are struggling to survive, Nusli Wadia’s GoAir has become the second operator to report back-to-back profit.
In 2012-13, the low-cost carrier made over ?100-crore profit on a revenue of ?3,000 crore, and saw profit again in 2013-14, CEO Giorgio De Roni told Business Line.
Last year, high cost of fuel and rupee depreciation forced the airline to transfer the additional cost to the passengers, De Roni said. Hence, it had affected demand. “But still, we have been able to deliver a profit.” He, however, did not disclose the numbers as it was yet to be presented to the airline’s board.
Another low-cost airline IndiGo has been reporting back-to-back profits for the last five years.
De Roni also pointed out that with fuel taxes as high as 30 per cent, it is one of the highest in the world.
22/05/14 Business Line
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In 2012-13, the low-cost carrier made over ?100-crore profit on a revenue of ?3,000 crore, and saw profit again in 2013-14, CEO Giorgio De Roni told Business Line.
Last year, high cost of fuel and rupee depreciation forced the airline to transfer the additional cost to the passengers, De Roni said. Hence, it had affected demand. “But still, we have been able to deliver a profit.” He, however, did not disclose the numbers as it was yet to be presented to the airline’s board.
Another low-cost airline IndiGo has been reporting back-to-back profits for the last five years.
De Roni also pointed out that with fuel taxes as high as 30 per cent, it is one of the highest in the world.
22/05/14 Business Line
