airline financial performance Indigo Airlines, the country’s largest airline, has reported a loss of Rs 986.7 crore in the second quarter of FY 24-25. This is the first time in two years that the company has made a loss, even as its revenue grew 13.6% to Rs 16,970 crore.
due to loss
The company says the main reasons for the losses are high fuel prices and shortage of aircraft. Fuel expenses increased by 12.8% to Rs 6,605.2 crore in the quarter. Additionally, aircraft and engine fares also increased four times, impacting financial results.
increase in total expenses
IndiGo’s total expenses increased by 22% to Rs 18,666.1 crore. This increase includes airport charges, aircraft fares and maintenance expenses.
market share
Despite this, IndiGo served 2.78 crore passengers in the September quarter and captured 63% market share in the country.
CEO’s statement
IndiGo CEO Peter Albers said that the company’s growth and expansion process is continuing, but 60 aircraft have been kept grounded due to problems related to parts supply chain and engine maintenance.
future prospects
Albers said the number of grounded aircraft has started to decline, which is expected to improve the company’s financial position.