IndiGo to face ‘significant’ financial damage due to flight cancellations and refunds

Crisis-hit IndiGo will face significant financial damage from loss of revenue due to flight cancellations, refunds and other compensation, said global ratings firm Moody’s on Monday, while highlighting that disruptions are credit negative for the country’s largest airline. IndiGo has cancelled around 5,000 flights since last Tuesday due to a severe crew shortage, especially pilots, following revised Flight Duty Time Limitations (FDTL) norms introduced last month. These cancellations stranded thousands of passengers and triggered government intervention.