Indigo's Q2 Earnings Show A Sequential Decrease In Net Loss To $1,435 Crores

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Indigo's Q2 Earnings Show A Sequential Decrease In Net Loss To $1,435 Crores
29 Oct 2021
6 min read

News Synopsis

IndiGo's net loss for the September quarter shrank sequentially to 1,435 crores, thanks to a surge in, in-flight travel over the holiday season. During the quarter, IndiGo operated a maximum of 1,209 daily flights and a minimum of 759 flights, including non-scheduled flights. The disastrous second wave and subsequent lockdowns meant that the entire time was a near washout in operations for India's largest airline, which recorded a staggering loss of 3,179 crores in the June quarter. However, when compared to the same time last year, the loss has increased to 1,195 crores.

Surging crude oil prices, just as aviation traffic was beginning to stabilize, thwarted a speedy rebound. As global crude oil prices skyrocketed due to an energy shortage, oil marketing corporations increased the price of aviation turbine fuel by around 70% to 80% in the recent year. When compared to the same quarter last year, fuel costs increased by 200 percent to 1,989 crores. Total costs for the September quarter totaled 7,234 crores, up 71.3 percent from the same quarter the previous year.

TWN Opinion