IndiGo parent posts wider quarterly loss as airline’s fuel expenses soar

Interglobe Aviation Ltd , which operates India’s biggest airline, reported a bigger quarterly loss on Thursday as higher fuel expenses eclipsed a rebound in travel demand.

Rocketing fuel prices pose a serious threat to the recovery in India’s pandemic-battered aviation industry, in line with U.S. peers that have also said a complete return to profit may be delayed as higher prices overshadow strong demand.

Interglobe’s aircraft fuel expenses in the quarter soared 207.8%.to 19.89 billion rupees in the reported quarter, the company said.

Still, revenue from operations rose 104.6% as COVID-19 vaccination rates picked up and the government eased most air travel-related curbs.