IndiGo, India’s largest airline, reported a net loss of ₹986.7 crore for the quarter ending in September, primarily due to the grounding of planes and increased fuel expenses. In the same period last year, the airline had posted a profit of ₹188.9 crore.
CEO Pieter Elbers noted that despite the challenges, IndiGo’s growth and expansion efforts were evident, with total revenue increasing by 14.6% year-on-year to ₹17,800 crore for the September quarter.
He acknowledged that the traditionally weaker second quarter was further affected by issues related to grounded aircraft and escalating fuel costs, although he expressed optimism, stating that the number of grounded planes and associated expenses were beginning to decrease. Fuel costs for the airline rose by 12.8% to ₹6,605.2 crore during this quarter.
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