Business

IndiGo experiences highest loss by Indian airline

Summary

Consultant picture NEW DELHI: IndiGo has reported a lack of Rs 2,844 crore within the April-June 2020 interval — the highest-ever quarterly loss for an Indian airline, with no scheduled flights in 60% of Q1. In distinction, IndiGo had reported […]

Consultant picture

NEW DELHI: IndiGo has reported a lack of Rs 2,844 crore within the April-June 2020 interval — the highest-ever quarterly loss for an Indian airline, with no scheduled flights in 60% of Q1. In distinction, IndiGo had reported its highest-ever quarterly revenue of Rs 1,203 crore in Q1 of the earlier fiscal, primarily on account of upper fares following the collapse of Jet Airways.
The low-cost provider noticed its working income fall 92% to Rs 767 crore from Rs 9,420 crore with an analogous discount in capability from the earlier yr. Whereas operations got here to a digital standstill for nearly two months, the mounted value of 274 plane was to be borne, resulting in a each day lack of Rs 31 crore in Q1.
IndiGo CEO Ronojoy Dutta described the Covid impression as “the aviation business going by way of a disaster of survival”. IndiGo nonetheless stays the perfect positioned to outlive with a “robust stability sheet with a complete money of Rs 18,450 crore”.

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