IndiGo posts big quarterly loss
India’s largest airline by market share posted a net loss of INR8.7 billion (US$ 116 million) for the January-March fourth quarter.
It contrasts with a profit of $78.5 million a year ago as the Covid-19 ravages the airline industry.
The airline is not providing a forecast going forward and expects results will get much worse.
India’s two-month lockdown kicked in on March 25 when all airlines’ revenue was basically zero.
Shares were up more than 10% as results were actually better than analysts’projections.
It is in a better position to weather the crisis than most of its rivals as it has about INR204 billion in cash reserves.
Domestic flights restarted recently in India after the two-month hiatus but in IndiGo’s case it is at about 20% of normal levels.
"In times like these, we must shift our focus from profitability and growth to managing cash and liquidity," said EO Ronojoy Dutta.
Over the next few months IndiGo aims to boost liquidity further by not paying a dividend and embarking on further cost-cutting measures.
Salary costs have been cut by 5 to 25% for most staff and many have taken unpaid leave for the May-July period.
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.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers