Interglobe Aviation on November 4 reported a net loss of Rs 1,583.33 crore in the second quarter of fiscal year 2022-23.
The airline had a loss of Rs 1,435.66 crore in the year-ago period.
However, revenues of the company rose to Rs 12,852.29 crore in the second quarter of the current fiscal, from Rs 5,798.73 crore a year ago.
Despite the widening of loss, IndiGo, in a press release noted that the airline's capacity has increased by 75 per cent. The passenger numbers jumped by 75.9 per cent on-year to 19.7 million, it added.
"Yield improved by 21.0 percent to Rs 5.07 and load factor improved by 8 points to 79.2 percent," the company said.
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IndiGo CEO Pieter Elbers said September quarter was the second consecutive quarter wherein it operated at higher than pre-Covid capacity.
“In spite of a seasonally weak quarter, we witnessed relatively good yields with strong demand across the network. However, fuel prices and exchange rates have adversely impacted our financial performance.
“We are on a steady path to recovery, benefiting from enormous opportunities both in domestic and international markets. With an industry challenged by global supply chain disruptions, we are working on various counter measures to accommodate this strong demand,” he said.
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