IndiGo reports third consecutive loss during September quarter
NEW DELHI : InterGlobe Aviation Ltd, India’s largest domestic airline, reported a third straight quarterly loss as travel demand remained muted because of the covid-19 pandemic.
IndiGo said its loss widened to ₹1,195 crore in the quarter to September from ₹1,062 crore a year ago. Revenue fell by 64.5% to ₹3,029 crore. A Bloomberg survey of analysts expected the company to report a loss of ₹1,604.80 crore on a revenue of ₹2,635.90 crore.
The management told investors during a post-earnings conference call that the airline’s fleet size will either stay stagnant or decline from the current levels over the next two years as it returns its older leased Airbus A320ceo planes to lessors. IndiGo expects its fleet comprising 282 planes at the end of 30 September to expand only from 2023.
