InterGlobe Aviation reported a net loss of Rs 620 crore in the third quarter of pandemic-struck 2020-21 financial year
Logs 4th quarterly loss; will ramp up capacity to return to profitability
The pre-tax loss came in at Rs 623.1 crore for the quarter under review, compared with pre-tax profit of Rs 556.5 crore clocked in Q3FY20.
In the broader market, the S&P BSE MidCap index ended 0.4 per cen lower while the smallcap counterpart closed down 0.45 per cent.
Investors expect the low cost airline to be a key beneficiary of revival in domestic travel amid the roll out of the coronavirus vaccine
Aditya Birla Fashion and Retail (ABFRL) has announced a strategic partnership with designer brand Sabyasachi
During the three months to December, Brent crude prices declined 28 per cent YoY while domestic aviation turbine fuel (ATF) prices plunged 31 per cent YoY
IndiGo said on Friday it will start operating flights on Agra-Bengaluru and Agra-Bhopal routes from March 28 under the regional connectivity scheme Udan
The airline is now the world's seventh biggest by capacity and the largest outside the United States and China
NEW DELHI/SYDNEY (Reuters) - India's IndiGo has emerged as one of the world's biggest airlines by capacity, aided by a swift recovery in the domestic aviation market to nearly 80% of pre-pandemic levels and the financial strength to boost market share as rivals struggle.
Except IndiGo, airlines resist lifting of cap as traffic uncertain
This comes after the Meghalaya government reopened the state for tourists after remaining closed for almost 10 months due to COVID-19
IndiGo airlines said that some of its servers were hacked earlier in the month of December and hackers might upload some internal documents on public platforms
We realise the seriousness of the issue, and are continuing to engage with all relevant experts, the airline said
While chartered flights were earlier being used for business and repatriating of stranded Indians and foreigners, the leisure segment picked up with the opening up of tourist destinations
IndiGo, which has some 730 Airbus SE A320neo planes on order, laid off about 10% of its workforce due to the pandemic-driven slowdown
The rebooking or refund option is only for that leg of the journey that has been cancelled by the airline
The airline is gearing-up for the expected demand and plans to Regional routes will take centre stage in aviation's growth especially in the near future
IndiGo said it will refund all customer credit shells, which were created when flights were cancelled due to the coronavirus lockdown earlier this year, by January 31, 2021
The stock of SpiceJet, for instance, has soared 80 per cent in the past month, from a level of Rs 49.6 apiece on the BSE (on closing basis) to Rs 89.3 on December 4