{"id":365688,"date":"2020-07-31T10:39:17","date_gmt":"2020-07-31T05:09:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365688"},"modified":"2020-07-31T10:39:17","modified_gmt":"2020-07-31T05:09:17","slug":"indigo-sets-its-sights-on-liquidity-as-it-ventures-into-unchartered-territory","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indigo-sets-its-sights-on-liquidity-as-it-ventures-into-unchartered-territory\/","title":{"rendered":"IndiGo sets its sights on liquidity as it ventures into unchartered territory"},"content":{"rendered":"<p>It was common knowledge that InterGlobe Aviation Ltd would report massive losses for the June quarter due to the lockdown and ensuing travel restrictions. The moot point was, how much?<\/p>\n<p>InterGlobe, which runs budget airline IndiGo, reported a net loss of \u20b92,849 crore on revenue of \u20b9767 crore. It also said that fixed cash burn dropped to about \u20b930 crore per day in June from roughly \u20b940 crore per day in March. This improvement was helped by cost-cutting initiatives and a gradual increase in the number of flights. For the June quarter, IndiGo\u2019s employee costs and supplementary rentals &amp; maintenance cost declined sequentially by about 17% and 56%, respectively.<\/p>\n<p>The carrier expects cash burn to drop further as it scales up operations, boosting its liquidity position. Speaking of cash, the sequential drop in its free cash was curtailed to \u20b91,400 crore. By June-end, free cash stood at \u20b97,527 crore, offering comfort to investors that the airline has adequate cash to be able to sail through this storm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was common knowledge that InterGlobe Aviation Ltd would report massive losses for the June quarter due to the lockdown and ensuing travel restrictions. The moot point was, how much? InterGlobe, which runs budget airline IndiGo, reported a net loss of \u20b92,849 crore on revenue of \u20b9767 crore. It also said that fixed cash burn dropped to about \u20b930 crore per day in June from roughly \u20b940 crore per day in March. This improvement was helped by cost-cutting initiatives and a gradual increase in the number of flights. For the June quarter, IndiGo\u2019s employee costs and supplementary rentals &amp; maintenance [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[188,139,130],"tags":[],"class_list":["post-365688","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365688"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365688\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}