Indigo losses in Q3
The aviation sector has suffered a lot during the Corona epidemic. The country’s largest airline company Indiago Airlines reported a net loss of Rs 620 crore in the third quarter of the current financial year.
- January 28, 2021, 5:37 PM IST
Consolidated revenue of the company declined by 50.6 per cent to Rs 4,910 crore in the third quarter. Which was Rs 9,932 crore in the third quarter of last year.
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International flights will start soonIndigo CEO Ronojoy Dutta said that recovery is coming slowly. It is expected that in a few months, international flights will also start gradually. He further said that full utilization of airplanes is very important for the company’s profits.
Balance sheet is strong
Let us tell you that due to reduced operations, the income of the company has come down by 50.6 per cent to Rs 4910 crore. Explain that the company’s balance sheet is still very strong. He has a total cash of Rs 18,365.3 crore.
There was loss in second quarter also
Due to the epidemic and lockdown, all regular flights in the country remained closed from 23 March to 25 May. Please tell that from 25 May flights were started slowly. Indigo’s parent company Interglobe aviation had reported that the company had a loss of Rs 2844.3 crore in the June quarter. The company had a profit of 1203.1 crores in the same quarter last year.
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Let us tell you that during this quarter, the company has added some new aircraft to its fleet, due to which the total number of aircraft of the company has increased to 287. In the third quarter, the company operated an average of 1166 flights per day.