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Journalism of Courage
InterGlobe Aviation Ltd , the operator of India’s top airline IndiGo, posted a smaller loss for the June quarter, powered by pent-up demand for air travel.
Yields, a metric of profitability, rose 50.3% to 5.24 rupees per kilometre, while passenger load factor, or the passenger carrying capacity being utilized, increased to 79.6% from 58.7% for the first quarter ended June 30.
The results come as IndiGo has seen a churn at the top, while reports of an exodus of its ground crew and technicians to other airlines have also been doing the rounds.
Revenue from operations jumped four-fold to 128.55 billion rupees.
The company’s loss narrowed to 10.65 billion rupees ($134.46 million) from 31.79 billion rupees in the year-ago quarter, when many Indians avoided flying during the second wave of the pandemic.
IndiGo expects a jump of about 70%-80% in capacity in available seat per kilometre in the current quarter from the same period a year earlier.
Although demand has picked up, high fuel costs and inflation have emerged as big concerns for airlines.
($1 = 79.2060 Indian rupees)
