Comments
Better ticket revenue and credits from manufacturers helped December quarter profits of Interglobe Aviation, the owner of India’s largest airline by market share IndiGo, surge 56 per cent to ₹762 crore. Operating revenue stood at ₹2001.89 crore for the quarter, 37 per cent higher than the year-ago period.
In December, IndiGo crossed the landmark of being the first Indian carrier to operate 1,000 flights daily. Passenger ticket revenue for the quarter was ₹6,449 crore, while ancillary income was ₹700 crore, up 20 per cent year-on-year. Costs per seat kilometre (including fuel) rose 3.9 per cent to ₹3.18.
As of December 2017, IndiGo operated a fleet of 153 aircraft, an increase of 12 during the quarter. The company said it made forex gains of ₹80.3 crore in the quarter, as the rupee strengthened against the dollar over the period.
In a call with investors, Aditya Ghosh, President and Whole-Time Director, said that IndiGo is still keen on acquiring Air India’s international operations. However, IndiGo is also securing route rights and the necessary approvals for flying abroad, Ghosh added.
Comments
Comments
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 TheHindu Businessline 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.