Pratt, Airbus compensation helps IndiGo beat profit estimates

Airbus and Pratt & Whitney’s compensation to IndiGo for glitches that grounded jets helped the airline's post quarterly profit that exceeded analyst’s estimates. The problems plaguing the carrier’s operation since July were fixed earlier this month after Pratt & Whitney managed to replace the engines that power the Airbus’s A320neo jets. The world’s biggest buyer of the aircraft grounded as many as 9 of its brand new planes on some days, denting the schedule and on-time performance. IndiGo has 430 A320neo jets on order, on top of a previous order for 100 aircraft. Profit for the quarter ended Sept 30 almost quadrupled to INR5.52b (US$85.2m), the airline said. That compares to an average forecast of INR3.21b from 11 analysts’ estimates compiled by Bloomberg. <br/>