NEW DELHI: IndiGo on Friday reported a loss of Rs 986.7 crore in the July-Sept quarter, after seven straight profitable quarters with the profit in Q2 last fiscal being Rs 189 crore. The
airline
attributed this slip back to red to “higher
fuel costs
and a peak number of
groundings
“. IndiGo stock closed at Rs 4,365, down 3.4% on BSE on Friday.
Of 410 aircraft in its fleet, those grounded are now in 60s due to Pratt & Whitney’s prolonged engine issues – down from a peak of 70s – and the airline expects this number to be in 40s next fiscal. Since, post-Covid demand for travel is normalising, fares hikes are not similar to those being seen in the last two-three years.
IndiGo CEO Pieter Elbers said: “IndiGo’s growth and expansion continued as our topline grew by 14.6% YoY.”
