InterGlobe Aviation, the parent of the country’s largest airline IndiGo, saw its losses widening to Rs 1,583.34 crore for the quarter ended September 30, 2022 because of the rupee depreciation and higher fuel costs. The company had posted a loss of Rs 1,435.66 crore in the same period of the previous year.
Total income of the company rose to Rs 12,852.29 crore during the quarter from Rs 5,798.73 crore in the year-ago period. Total expenses spiked to Rs 14,435.57 crore, an increase of over 99 per cent over the corresponding quarter in the previous year. Fuel costs surged to Rs 6,257.9 crore from Rs 1,989.4 crore in the same quarter of 2020-21.
IndiGo CEO Pieter Elbers said that the quarter was the second consecutive period wherein it operated at higher than pre-Covid capacity.
