IndiGo Reports Loss of ₹620 Crore In Q3

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Interglobe Aviation Limited, which operates the country’s biggest airline IndiGo, today reported a loss of ₹620 crores for the quarter ended December 2020. Capacity for the quarter down by 40.8% compared to the same period last year.

Revenue from operations of the company, which operates India’s biggest carrier IndiGo, nearly halved to ₹4,910 crores for the quarter as compared to the same period last year.

IndiGo expects the capacity of the fourth quarter of fiscal 2021 to be around 75-80% of fourth-quarter fiscal 2020 capacity.

CEO Ronojoy Dutta said, “The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because the increased capacity and aircraft utilization are so very critical for our return to profitability. We had promised to come out of the crisis stronger than we went in and with the full commitment of all our employees, we are beginning to deliver on that promise. “

For the quarter, its passenger ticket revenues were at ₹4,069 crores, a decrease of 53.6% and ancillary revenues were ₹807 crores, a reduction of 22.1 % compared to the same period last year

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lndiGo said it had a total cash balance of ₹18,365 crores comprising ₹7,444 crores of free cash and ₹10,920.7 crores of restricted cash.

(Source: LiveMint)


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