IndiGo loss widens to ₹1,583 crore on higher fuel costs, exchange rate woes

Growth in passenger demand, higher airfares failed to cut widening of loss

November 04, 2022 08:06 pm | Updated 08:06 pm IST - NEW DELHI

Budget carrier IndiGo’s loss widened to ₹1,583 crore in the quarter ended September due to rising fuel prices and a weaker rupee exchange rates, and despite a growth in passenger demand as well as higher airfares.

The airline had recorded a loss of ₹1,435 crore a year earlier, and a loss of ₹1,064 crore in the quarter ended June 2022.

Compared with last year, the airline’s revenue from operations more than doubled to ₹12,497 crore as passenger numbers increased 76% to 1.9 crore and yields (rupee earned for each passenger mile) expanded by 21%. However, fuel prices shot up by 86.7%, contributing to the rise in total cost for the airline by 99.5%.

The airline - which has been forced to ground 20 of its 276 planes due to delays in the supply of spare engines by manufacturer Pratt & Whitney as well as delays in induction of new aircraft - was “working on various counter measures to accommodate” strong passenger demand, said IndiGo CEO Pieter Elbers, in an attempt to assuage concerns over capacity issues in the market resulting in a rise in airfares.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.