Budget carrier IndiGo reported a net loss of Rs 1,194.8 crore for the July-September quarter (Q2), as against a loss of Rs 1,031.8 crore for the same period last year. However, the loss in Q2 narrowed compared to the airline’s Q1 loss of Rs 2,844 crore, with flights being operational throughout Q2.
The airline reported revenue from operations of Rs 2,741 crore, down 66.2% as compared to last year. This fall in revenue comes on the back of a capacity reduction of 63.3% in the same period last year.
Passenger ticket revenues, the airline said, decreased 68.9% to Rs 2,208.2 crore, while ancillary revenues reduced 45.5% to Rs 506.6 crore. It is to be noted that on-flight services such as sale of food and accessories has been prohibited.
Airlines have been operating at only 30-45% of their capacity compared to the period before the COVID-19 pandemic.
IndiGo’s expenses too reduced 55.9% to Rs 4,224.1 crore as compared to the same quarter last year.
IndiGo CEO Ronojoy Dutta said in a statement that the airline is slowly ‘but surely stair-stepping’ its way back to normal capacity.
“While we are very much focused on managing the crisis of the present, we are also reimagining the promise of the future. Once we are back at I 00 percent capacity, we will have lower unit costs, a stronger product, a more efficient fleet and a robust network. We are impatient for the arrival of the future,” he added.
As of September 30, 2020, the airline’s fleet comprised 282 aircraft including 117 A320 CEOs, 116 A320 NEOs, 24 A32 I NEOs and 25 ATRs. This is a net increase of 8 aircraft during the quarter.
Offering insights into operations during the quarter, IndiGo said that it operated at a peak of 823 daily flights during the quarter including charter flights. It also provided services to 59 domestic destinations and 5 international destinations through air bubbles.