IndiGo, India's largest airline, recently announced its financial results for the second quarter of the fiscal year 2024, revealing a challenging period marked by significant losses. Despite the hurdles, the airline continues to show resilience and strategic growth.
By Aditya M

Financial Performance
IndiGo reported a net loss of ₹986.7 crore for the quarter ending September 2024. This marks a stark contrast to the same period last year, where the airline posted a profit of ₹188.9 crore. The primary drivers behind this loss were the grounding of aircraft and soaring fuel costs.
Excluding the impact of foreign exchange, the loss stood at ₹746.1 crore. The airline's total expenses surged by nearly 22% to ₹18,666.1 crore, driven by a 12.8% increase in fuel costs, which amounted to ₹6,605.2 crore. Additionally, aircraft and engine rentals saw a significant rise, reaching ₹763.6 crore from ₹195.6 crore in the previous year.
Revenue and Market Share
Despite the financial setbacks, IndiGo's revenue grew by 14.6% year-on-year to ₹17,800 crore. The airline carried 27.8 million passengers during the quarter, a 6% increase compared to the same period last year. IndiGo maintained a commanding market share of 63% in the Indian aviation sector.
Passenger ticket revenues rose by 9.9% to ₹143,592 million, while ancillary revenues increased by 20.9% to ₹18,750 million. The yield, calculated as cost per kilometre and an indicator of ticket price, climbed by 2.3% to 4.55 from 4.44 in the previous year.
Strategic Initiatives and Future Outlook
IndiGo's CEO, Pieter Elbers, highlighted the airline's ongoing growth and expansion efforts. Despite the traditionally weaker second quarter and the challenges posed by grounded aircraft and high fuel costs, IndiGo has started to see a reduction in the number of grounded planes and associated costs.
Looking ahead, IndiGo expects capacity in terms of Available Seat Kilometres (ASKs) to increase by early double digits in the December quarter
Conclusion
IndiGo's Q2 results reflect the airline's resilience in the face of significant challenges. While the financial losses are notable, the airline's strategic initiatives and market dominance position it well for future growth. As IndiGo continues to navigate through these turbulent times, its focus on expansion, customer experience, and cost leadership will be crucial in steering towards profitability.
IndiGo's journey through this quarter underscores the dynamic nature of the aviation industry, where adaptability and strategic foresight are key to sustaining growth and overcoming adversities. The airline's commitment to operational excellence, customer satisfaction, and social responsibility will play a vital role in shaping its future trajectory.
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