Lockdown impact: IndiGo reports Rs 2,844 crore loss in April-June quarter
NEW DELHI: Reeling under the crippling impact of corona pandemic, IndiGo has reported a loss of Rs 2,844 crore in the April-June, 2020, period — the highest ever quarterly loss for an Indian airline.
In corresponding Q1 of last fiscal, IndiGo had reported its highest ever quarterly profit of Rs 1,203 crore mainly on account of higher fares following the collapse of Jet Airways. IndiGo CEO Ronojoy Dutta described the corona impact as “the aviation industry going through a crisis of survival.” The airline’s scrip closed 0.4% lower at Rs 909.80 on BSE on Wednesday when the broader market was down by 1.1%.
Schedule domestic flights were suspended on March 25 and international a couple of days before that. While domestic flights were allowed to partially resume from May 25, they are operating at only about 30% capacity and schedule international operations are yet to restart.
