IndiGo parent posts quarterly loss as costs rise, flags pandemic hit

The parent of India’s largest airline IndiGo reported a quarterly loss on Tuesday as expenses rose, and did not provide a forecast on capacity due to a hit to operations from the COVID-19 pandemic.

Interglobe Aviation Ltd, which had been grappling with higher maintenance costs at the carrier amid slowing demand, was forced to halt all operations as India went into a lockdown in March to curb the spread of the coronavirus.

Aircraft repair-and-maintenance expenses for the fourth quarter rose 75.6% to 16.81 billion rupees ($223.71 million), raising the company’s overall costs, excluding spending for fuel, higher by 45.6%. Cost per available seat kilometer, including fuel, rose 25.8% to 4.21 rupees.