India's IndiGo suffers a steep loss as COVID-19 bites
The parent of India's largest airline IndiGo reported a quarterly loss as expenses rose, and did not provide a forecast on capacity due to a hit to operations from the COVID-19 pandemic. Interglobe Aviation, which had been grappling with higher maintenance costs at the carrier amid slowing demand, was forced to halt all operations as India went into a lockdown in March to curb the spread of the coronavirus. Aircraft repair-and-maintenance expenses for Q4 rose 75.6% to 16.81b rupees ($223.71m), raising the company's overall costs, excluding spending for fuel, higher by 45.6%. Cost per available seat kilometer, including fuel, rose 25.8% to 4.21 rupees. Higher expenses led to a net loss of 8.73b Indian rupees ($116.19m) for Q4 ended March 31, compared to a profit of 5.90b rupees a year earlier. Indigo, which dominates the domestic market, in April asked its employees to go on leave without pay for a few days every month, while some of its senior management took pay cuts. After a two-month halt, India last week allowed domestic airlines to start a third of its operations until August 24.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-03/unaligned/indias-indigo-suffers-a-steep-loss-as-covid-19-bites
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India's IndiGo suffers a steep loss as COVID-19 bites
The parent of India's largest airline IndiGo reported a quarterly loss as expenses rose, and did not provide a forecast on capacity due to a hit to operations from the COVID-19 pandemic. Interglobe Aviation, which had been grappling with higher maintenance costs at the carrier amid slowing demand, was forced to halt all operations as India went into a lockdown in March to curb the spread of the coronavirus. Aircraft repair-and-maintenance expenses for Q4 rose 75.6% to 16.81b rupees ($223.71m), raising the company's overall costs, excluding spending for fuel, higher by 45.6%. Cost per available seat kilometer, including fuel, rose 25.8% to 4.21 rupees. Higher expenses led to a net loss of 8.73b Indian rupees ($116.19m) for Q4 ended March 31, compared to a profit of 5.90b rupees a year earlier. Indigo, which dominates the domestic market, in April asked its employees to go on leave without pay for a few days every month, while some of its senior management took pay cuts. After a two-month halt, India last week allowed domestic airlines to start a third of its operations until August 24.<br/>
