Analysts see up to Rs 2,700 crore loss for IndiGo in June 2021 quarter
The April to June 2021 quarter (Q1FY22) might have been “one of the worst quarters” for the Indian airlines, believe analysts, as air traffic remained muted amid the second wave of Covid-19, oil prices rose, and the rupee depreciated sequentially.
Against this backdrop, experts believe listed airline companies – InterGlobe Aviation (IndiGo) and SpiceJet — may post yet another quarterly loss for the period under study. In fact, they believe the sector may not turn profitable during this fiscal year.
“Domestic traffic was down 53 per cent in Q1 versus the previous quarter, 70 per cent lower than pre-Covid-19 levels and 10 per cent lower than our forecast of 12.2 billion passengers. Given this, we forecast yields to be soft.
