IndiGo aims to run flights at full capacity by December - Hindustan Times
close_game
close_game

IndiGo aims to run flights at full capacity by December

Bloomberg |
Sep 10, 2021 02:27 PM IST

Current cash levels were “pretty good,” Dutta said, though he added that the company wanted to raise funds as an insurance buffer against a possible third wave.

IndiGo, one of Asia’s biggest budget airlines, is aiming at running at full capacity domestically and is targeting just over two-thirds in international routes as the virus pandemic eases and people start traveling more.

The carrier, operated by InterGlobe Aviation Ltd., posted a loss of 31.8 billion rupees in the three months ended June 30, worse than a loss of 28.5 billion rupees a year earlier.(Livemint)
The carrier, operated by InterGlobe Aviation Ltd., posted a loss of 31.8 billion rupees in the three months ended June 30, worse than a loss of 28.5 billion rupees a year earlier.(Livemint)

“Things are improving slowly,” Chief Executive Officer Ronojoy Dutta told Bloomberg Television’s Rishaad Salamat and Haslinda Amin on Friday, adding that it was “hard not to be bullish as traffic is going up.” 

Hindustan Times - your fastest source for breaking news! Read now.

He said the current load factor for the airline is around 70% and yields are likely to rise in coming months.

Current cash levels were “pretty good,” Dutta said, though he added that the company wanted to raise funds as an insurance buffer against a possible third wave. India’s air travel recovery could turn out to be short-lived as forecasters predict a new Covid wave may peak in October. India has suspended international flights until Sept. 30 and limited the passenger capacity on domestic services to 72.5% of pre-pandemic levels.

The carrier, operated by InterGlobe Aviation Ltd., posted a loss of 31.8 billion rupees in the three months ended June 30, worse than a loss of 28.5 billion rupees a year earlier. IndiGo had imposed compulsory leave-without-pay for all its employees as passenger traffic plunged to near zero due to the deadly second Covid wave that hit India between March and May.

To combat the cash drain, Indian carriers have been raising funds. IndiGo in May said it’s considering raising 30 billion rupees by selling shares to large investors after it shelved the plan in January, saying back then that internal sources of cash would be sufficient as demand started to recover.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On