NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » GoAir makes profit in FY14, targets 6.5 mln passengers

GoAir makes profit in FY14, targets 6.5 mln passengers

July 21, 2014 11:41 IST

Wadia group-run GoAir announced on Sunday it made a profit in FY14.

The airline, however, refused to share the figure. Air India and two listed airlines- Jet Airways and SpiceJet- had collectively posted a loss of Rs 10,000 crore (Rs 100 billion) last financial year.

For GoAir this is the second consecutive profitable year. It reported a net profit of Rs 104 crore (Rs 1.04 billion) in FY 13 following a loss of Rs 133 crore in FY 12.

In FY13 IndiGo made a profit of Rs 787 crore, its fifth consecutive profit."The airline accomplished a profitable fiscal growth in 2013 - 14, despite a weak Rupee against the US dollar and high cost of jet fuel in the country."

It carried more than five million passengers across various sectors registering a growth of 20 per cent.

The airline is committed to bettering its performance and is likely to cross 6.5 million passengers in 2014 - 15, with new routes and additional capacity," GoAir said in a statement.