IndiGo posts shock loss weighed by fuel, maintenance costs

India’s largest airline IndiGo posted a surprise loss — its first in two years — weighed down by a higher fuel bill and a jump in maintenance costs. The carrier operated by InterGlobe Aviation Ltd. reported a loss of 9.9b rupees ($118m) in the three months ended Sept. 30, it said in an exchange filing Friday. A Bloomberg survey of brokerages had forecast an average profit of 1.34b rupees for a quarter that usually sees seasonally tepid demand. Revenue for the quarter rose 14% to 169.7b rupees but missed estimates. Total costs climbed 22% to 186.66b rupees, with fuel costs jumping 12.8% from a year ago and maintenance costs surging 30%, the filing said. Airport fees for the airline also rose about 40% in the latest quarter. “In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs,” Chief Executive Officer Pieter Elbers said in a statement. The number of grounded aircrafts and linked costs for the carrier have started declining, he said. Debt rose 20% from a year ago to 592.37b rupees. Its passenger load factor fell to 82.6% from 83.3% in the same quarter last year.<br/>