IndiGo swings to net loss of ₹986 crore in Q2

Fuel costs as well as grounding of 79 planes impact bottomline

IndiGo on Friday reported a net loss of ₹986 crore for the quarter ended September after seven straight quarters of profit.

The airline reported a profit of ₹188 crore in the year-earlier period and a profit of ₹2,728 crore in the first quarter of financial year 2025.

In a press statement, the airline’s CEO Pieter Elbers explained that the results were impacted by headwinds related to groundings and fuel costs in a quarter that traditionally sees weak demand.

The airline has 79 A320 family of aircraft grounded because of issues involving Pratt and Whitney engines.

However, the airline expects the figure of aircraft on ground (AoGs) to taper down to 60s in the months to come and reach 40s by the beginning of the next financial year, said the airline’s Chief Financial Officer Gaurav Negi in a post-result’s call with analysts. The airline has a total of 410 aircraft in its fleet.

Published - October 25, 2024 07:07 pm IST