The airline posted a pre tax loss of Rs 2842.6 crore in Q1FY21 against a pre tax profit of Rs 1509.4 crore in the same quarter of the last year
The company had also announced separate plans to raise at least $268 million through the sale and leaseback of planes and other assets
While the Kozhikode plane crash is one of the deadliest in a decade in India, there have been a number of mishaps and runway accidents across the country in the past year
IndiGo said that it operated a passenger charter flight from Moscow to Amritsar to Kochi on Sunday, bringing back a total of 212 Indians from the Russian capital.
All that happened in the markets today
The airline recouped morning losses and was trading 1.73 per cent higher ahead of its Board meeting, scheduled for later today, to consider raising Rs 2,000 crore
The quarterly results announcement by Reliance Industries and HDFC will be the major market mover today. Analysts expect a dent in RIL's retail and energy verticals in the June quarter
Posts loss of Rs 2,843 cr in Q1FY21 against PBT of Rs 1,509 cr Q1FY20
Airlines globally are looking for ways boost their finances after the coronavirus crisis kept travellers at home
The company said closure of scheduled operations till May 24, 2020 and lower capacity deployment thereafter on account of Covid-19 significantly impacted the quarterly results
Analysts at Centrum Broking estimate the airline to clock a net loss of Rs 2,672.6 crore driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs
All that happened in the markets today
CEO Ronojoy Dutta will take a pay cut of 35%, while all executives at the level of senior vice president and above will take a pay cut of 30%
With domestic air travel resuming only from May 25th, analysts expect Q1 performance to be adversely impacted due to truncated size of operations & travel restrictions by state governments
On June 26, the government had had allowed airlines to increase flights upto 45% of their total capacity, from the initial cap of one- third of their total capacity.
On Wednesday, Air India announced reduction in the allowances of its employees, who have a monthly gross salary of more than Rs 25,000, by up to 50 per cent
The airline with more than 50 percent market share is one of the largest job creators in the Indian aviation industry due to its size
Airline wants to secure long-term future during pandemic
The low-cost carrier said the "6E double seat" scheme will not be available through travel portals, IndiGo call centre or airport counters. The scheme can only be availed using IndiGo's website
The fourth phase of the Vande Bharat mission, which is currently underway, has been augmented with the addition of around 120 flights between July 15-31