Covid-19: IndiGo reports worst quarterly loss in 5 years

Interglobe Aviation Ltd , which runs India’s largest airline IndiGo, reported the steepest quarterly loss in at least five years on Wednesday as travel restrictions due to the Covid-19 pandemic hit its operations.

A more than two-month-long lockdown that started in March to curb the spread of the pandemic forced the airline to halt its operations, adding to its woes as it was already grappling with higher maintenance costs and weak demand.

The airline said it expects second-quarter average seat kilometers (ASKs) to be around 40 per cent of its ASKs for the same quarter a year earlier.

“The aviation industry is going through a crisis of survival,” Chief Executive Officer Ronojoy Dutta said in a statement.