Air Costa aims to break even by this fiscal

Jul 14 2014, 12:04 IST
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'We are taking delivery of one more aircraft this month and with that we plan to launch two new routes within the summer schedule.' 'We are taking delivery of one more aircraft this month and with that we plan to launch two new routes within the summer schedule.'
SummaryRegional airline Air Costa said on Sunday it expects to break even by the fiscal end on the back of an expanded route network and fleet.

Regional airline Air Costa said on Sunday it expects to break even by the fiscal end on the back of an expanded route network and fleet. “We also had challenging times like other carriers and had some losses. But now we are picking up and expect a better financial performance in the winter schedule. We are hopeful of attaining a break even in next 2-3 quarters,” Air Costa chief financial officer Vivek Choudhary told PTI.

He said the airline has logged a 25% growth in revenue and yield in June month-on-month, adding, “The load factor has gone up to 82% from 72% when we launched the airline last year.” The Vijaywada-headquartered regional carrier, which commenced operations last October, currently operates 34 flights from nine destinations with a fleet of four Embraer aircraft.

“We are taking delivery of one more aircraft this month and with that we plan to launch two new routes within the summer schedule,” Choudhary said. On the question of Air Costa seeking pan-India air operator permit, the CFO said that the plans are very much on track and the airline may move its application by September.

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