IndiGo parent posts Rs 870.8 crore loss as costs rise, pandemic hits biz

TRAVEL RESTRICTIONS and a subsequent lockdown on domestic and international air travel in the January-March period pulled the bottomline of InterGlobe Aviation, which runs India’s largest airline IndiGo, in to the red. The company posted a net loss of Rs 870.8 crore for the March-quarter, compared with a Rs 595.8-crore profit after tax same period last year.

The free cash flow of the company, which is the only cash-positive airline in India, depleted to Rs 8,928.1 crore as of March 31, compared with Rs 9,412.8 crore as of December 31, 2019. Notably, the last seven days of the January-March quarter, no passenger flights were operated by IndiGo on either domestic or international routes.