News
IndiGo attributes quarterly loss to fuel costs and aircraft groundings
October 28th 2024
IndiGo has reported a net loss of 9.9 billion rupee (US$117 million) for the three months to September 30, down from a net profit of 1.9 billion rupee in the same months in 2023. Read More » The loss was the result of rising costs and the grounding of some aircraft, India’s largest airline by passenger numbers said. Revenue was higher by 14.6%, at 177.6 billion rupee, it added. “In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs,” IndiGo CEO, Pieter Elbers, said. “We reached the peak number of groundings, in the mid-seventies, during the quarter and the number has started moderating downwards. We will continue to execute our long-term strategy and are fully confident of meeting our full- year capacity growth guidance of early double digits.”
