Sale-and-lease-back deal propels GoAir's FY17 profit 36% y-o-y

Net addition of four Airbus A320 planes pushed revenues up 20%, airline expanded network and launched new flights in existing markets

Gains from sale-and-lease-back of aircraft helped GoAir post a 36 per cent year-on-year increase in net profit during FY 2017. Net profit for fiscal-year 2017 was Rs 205.25 crore as against Rs 150.24 crore in the previous year.

GoAir's growth has been modest in comparison with its peers and the airline added its 20th aircraft last June. In the last financial year, it made a net addition of four Airbus A320 planes that yielded a 20 per cent increase in operating revenue to Rs 3,309 crore. Meanwhile, the airline added Hyderabad to its network and launched new flights from Kolkata