IndiGo Faces Losses but Optimizes for International Growth
IndiGo, the country's largest airline, reported a significant loss of Rs 2,582.10 crore for the September quarter due to higher forex losses and expenses. Despite these challenges, the airline is expanding its international network and expects to induct new long-range aircraft by December to boost revenue.
- Country:
- India
IndiGo, the nation's largest airline, has faced a challenging September quarter, reporting a substantial loss of Rs 2,582.10 crore. This downturn is primarily attributed to heightened forex losses and increased expenses impacting its financial outcome.
Despite the loss, IndiGo's CEO Pieter Elbers remains optimistic about future prospects, announcing plans to expand the airline's international network. The introduction of long-range Airbus A321 XLR aircraft in December is expected to bolster the airline's global reach and financial performance.
The company also highlighted the nuances of its financial results, noting that hedging actions and foreign currency revenues would mitigate currency fluctuations. IndiGo's adaptation strategy includes increasing capacity and maintaining operational efficiency amid the challenging aviation landscape.
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