Interglobe Aviation, which runs the low-cost carrier, said it suffered a consolidated loss of Rs 620.14 crore during the December quarter. Revenue from operations nearly halved to ₹4,910 crore for the quarter as compared to last year. A troika of festive travel, low air turbine fuel prices, and strong rupee helped the airline narrow down its losses.
lndiGo had a total cash balance of Rs 18,365.3 crore comprising Rs 7,444.5 crore of free cash and Rs 10,920.7 crore of restricted cash.
IndiGo’s CEO Ronojoy Dutta said, “We look forward to a gradual opening up of international flights in few months because increased capacity and aircraft utilization are so very critical for our return to profitability.”
The airline added five new aircraft to its fleet, taking total count to 287 aircraft. It operated a peak of 1,166 daily flights during the quarter.