BackIndiGo reports loss of ₹620 crore in December quarter
IndiGo expects the capacity of the fourth quarter of fiscal 2021 to be around 75-80% of fourth quarter fiscal 2020 capacity.
PremiumInterglobe Aviation today reported a loss of ₹620 crore for the quarte ended December 2020. Capacity for the quarter down by 40.8% compared to the same period last year. Revenue from operations of the company, which operates India's biggest carrier IndiGo, nearly halved to ₹4,910 crore for the quarter as compared to same period last year.
IndiGo expects the capacity of the fourth quarter of fiscal 2021 to be around 75-80% of fourth quarter fiscal 2020 capacity.
CEO Ronojoy Dutta said, "The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilization are so very critical for our return to profitability. We had promised to come out of the crisis stronger than we went in and with the full commitment of all our employees, we are beginning to deliver on that promise. "
For the quarter, its passenger ticket revenues were at ₹4,069 crore, a decrease of 53.6% and ancillary revenues were ₹807 crore, a reduction of 22.1 % compared to the same period last year
lndiGo said it had a total cash balance of ₹18,365 crore comprising ₹7,444 crore of free cash and ₹10,920.7 crore of restricted cash.
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