MUMBAI: Indian airlines’ operating profits were expected to nosedive in the December quarter. Not only were fuel prices far higher, but even passenger load factors had fallen owing to unusually high capacity addition.
Analysts at ICICI Securities Ltd had anticipated Ebitda losses for all three publicly traded airlines—InterGlobe Aviation Ltd (which operates IndiGo), SpiceJet Ltd and Jet Airways (India) Ltd. Kotak Institutional Equities, which only tracks InterGlobe Aviation, had estimated losses for the market leader, which is as good as saying all Indian airlines would post losses.
Ebitda stands for earnings before interest, tax, depreciation and amortization.
