IndiGo narrows losses in Q3

IndiGo posted another loss in Q3 of its financial year as revenues slumped by half on capacity cut 40%, though figures did mark some improvement on the previous quarter. In a stock-market announcement Thursday, the airline’s parent Interglobe Aviation disclosed a pre-tax loss of Rs6.2b ($85m) for the three months ending 31 December 2020. The loss compares to a profit before tax of Rs5.6b at the same stage last year. It represents, however, a near halving of the Rs12 billion pre-tax loss IndiGo reported for the three months between June and September 2020. Revenues were halved in its Q3 to Rs51.5b. That, though, again marked some improvement on the 65% fall in revenues IndiGo reported for its Q2. IndiGo, India's biggest carrier, saw passenger traffic down 41% on capacity cut 51% for the three months ending December 2020. Load factor for this period fell 15 percentage points to 72% and yields slipped almost 5% compared with the same period in 2019.<br/>