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IndiGo Q2 net loss widens to ₹1,194 crore

IndiGo on Thursday reported a net loss of ₹1,194 crore for the quarter ended September 2020 with its passenger capacity shrinking to 47% of levels seen a year earlier. Last year, the carrier had posted a net loss of ₹1,062 crore in Q2.

Total income slid 64.5% to ₹3,029 crore. Passenger ticket revenues shrank 68.9% to ₹2,208 crore.

CEO Ronojoy Dutta said it hoped to reach 80% of pre-COVID capacity by December, if the Centre relaxed the cap on the number of flights airlines could deploy. Aditya Pande, CFO, said IndiGo had been able to raise loans worth ₹600 crore from banks and was deferring a decision on a QIP until December.

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