Faced with headwinds due to the coronavirus pandemic, the country’ largest carrier IndiGo will experiment with new network and revenue models as well as implement measures that will result in additional liquidity of up to Rs 4,000 crore. InterGlobe Aviation, the parent firm of IndiGo, on Tuesday reported a net loss of Rs 871 crore in the March quarter and would not be doling out any dividend. “We will be reducing our unit costs even further, making our fleet more efficient, ensuring our capacity is right sized to the market and experimenting with new network and revenue models,” IndiGo CEO Ronojoy Dutta said in an earnings call.
Amid the challenging environment, Dutta emphasised that in these times, the focus must shift from profitability and growth to managing cash and liquidity. “To preserve cash, we are not looking to pay any dividend this year. We will continue to take steps to shore up our liquidity… We are in the process of revising full year capacity guidance,” he said.
