Suspense Crime Sach Ka Dam
The country’s largest airline IndiGo has suffered a major setback. The airline, which is incurring losses after seven quarters in the second quarter of the financial year 2024-25, on Friday reported a net loss of Rs 986.7 crore in the September quarter due to the grounding of aircraft and rising fuel costs. According to PTI news, IndiGo, which has also become India’s first airline to have more than 400 aircraft, said that the number of its grounded aircraft has come down from the mid-70s to a high of 60. By the end of the year, it will come down to 60.
By the end of September, the fleet consisted of 410 aircraft.
According to the news, IndiGo had a fleet of 410 aircraft as of the end of September. In the September 2023 quarter, the airline’s profit was Rs 188.9 crore in the year-ago period. IndiGo’s loss stood at Rs 746.1 crore in the second quarter of the current financial year. IndiGo CEO Peter Albers said the airline’s growth and expansion continued as its revenue grew 14.6 percent year-on-year to Rs 17,800 crore in the second quarter. He said the number of our grounded aircraft and associated costs have started to come down. Given Pratt & Whitney’s engine problems, the airline has grounded several aircraft.
The number of grounded aircraft will decrease.
IndiGo Chief Financial Officer Gaurav Negi said the number of grounded aircraft will come down to less than 60 by the end of the year and to 40 by the beginning of the next fiscal year. Albers said the specially designed business class will be introduced on the Delhi-Mumbai route and later, it will be available on 12 metro routes with a fleet of over 40 aircraft. IndiGo will launch services to more international destinations this fiscal year.
Fuel costs increased by 12.8 percent.
IndiGo said fuel costs rose 12.8 percent to Rs 6,605.2 crore in the second quarter as against Rs 5,856 crore in the same period a year ago. Aircraft and engine rentals rose to Rs 763.6 crore in the second quarter as against Rs 195.6 crore in the same period a year ago. Total expenses rose nearly 22 percent to Rs 18,666.1 crore in the September quarter. In the September quarter, the airline carried 27.8 million passengers, up nearly 6 percent compared to the same period a year ago.
