IndiGo parent posts Rs 1,062-crore loss on higher expenses

Interglobe Aviation, which runs low-cost airline IndiGo, on Thursday reported higher-than-expected losses of `1,062 crore in the July-September period due to higher expenses.Analysts tracked by Bloomberg had estimated a `75-crore loss at the budget carrier in Q2FY20.
The current losses were up 63% year-on-year, compared to a Rs 651-crore loss in Q2FY19, when the airline was impacted by high fuel costs, rupee depreciation and intense competition leading to low fares.

Total expenses went up 27.6% y-o-y to Rs 9,571 crore during Q2FY20, with a weaker rupee increasing the lease liabilities and re-assessment of future maintenance costs in a seasonally weak quarter.