IndiGo posts another quarterly loss
India’s biggest carrier by market share IndiGo just posted its seventh straight quarterly loss.
Its net loss widened by 20% to $190 million for the July-September quarter although it is ‘encouraged by the pace of revenue recovery ‘especially ticket revenue booked in October which is close to pre-Covid levels.
IndiGo said its cash burn is down by one-third however it warned steep fuel prices will slow down its recovery.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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IndiGo posts another quarterly loss
India’s biggest budget airline IndiGo posted another quarterly loss, losing INR11.5 billion ($157 million) in the three months through March. It is the airline’s fifth consecutive quarterly loss.
However it says it has seen ‘modest revenue improvements’ in late May and so far in June. The airline is considering raising more capital to stay afloat as India has been hit with a staggering rate of Covid infections of nearly 30 million, while international services have been hit hard by severe travel restrictions to and from India.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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