IndiGo Airlines Recorded A Loss Of Rs 3,174 Crore In The June Quarter.
InterGlobe Aviation Limited, which owns IndiGo airlines, reported losses for the sixth consecutive quarter, mainly due to flight restrictions.
InterGlobe Aviation Limited, which owns IndiGo Airlines, detailed its 6th continuous quarterly misfortune chiefly because of flight limitations incited constantly wave of the Coronavirus pandemic the nation over. Its June quarter overal deficit remained at Rs 3,174.2 crore.
Rupee devaluation, discounted air traffic and rising oil costs additionally influenced the organization’s financials for the primary quarter of 2021-22 (April-June period).
The spending transporter had posted a total deficit of ₹ 1,160 crore in the final quarter of 2020-21.
“During the current quarter, the nation was under an extreme effect of second flood of Covid-19. Therefore, all state governments once again introduced measures including lockdown to reduce spread of the infection. This has prompted a critical drop in air traffic subsequently seriously affecting our incomes and productivity for the quarter,” the organization said in a proclamation.
The carrier’s income fell by 51.6 percent to remain at ₹ 3,006 crore during the April-June quarter of the current monetary year, contrasted with the income of ₹ 6,223 crore which it had recorded in the January-March quarter of 2020-21.
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