Indigo posts net loss of Rs 1,062 crore

Terming it as a historically weak quarter for Indigo, India’s Low-Cost Carrier posted a net loss of Rs 1,062 crore for the quarter ended September 2019.

“While our revenue performance was much better during the quarter, the losses were accentuated by forex losses on operating lease liabilities created under IND AS 116 and re-assessment of accrual estimates for future maintenance cost,” Dutta added.

In the said quarter, the company had to bare total expenses worth Rs 95,716 crore which lead to an increase of 27.6 per cent on a YoY basis. Cost per Available Seat Kilometers (CASK) excluding fuel increased by 17.2 per cent in comparison to the same time last year.