{"id":2387,"date":"2024-02-05T05:39:18","date_gmt":"2024-02-05T05:39:18","guid":{"rendered":"https:\/\/viralplanetnews.com\/?p=2387"},"modified":"2024-02-05T05:39:18","modified_gmt":"2024-02-05T05:39:18","slug":"indigos-third-quarter-revenue-rises-by-53-as-indias-air-travel-demand-grows","status":"publish","type":"post","link":"https:\/\/viralplanetnews.com\/index.php\/2024\/02\/05\/indigos-third-quarter-revenue-rises-by-53-as-indias-air-travel-demand-grows\/","title":{"rendered":"IndiGo’s third-quarter revenue rises by 53% as India’s air travel demand grows."},"content":{"rendered":"\n

By – Shubhendra Singh Rajawat <\/p>\n\n\n\n

IndiGo Q3 Results: Net income increased 53% to 29.98 billion rupees ($362 million) in the three months ended December 31, according to IndiGo.<\/p>\n\n\n\n

IndiGo, India’s largest airline, posted a profit for the sixth consecutive quarter, as the budget carrier increased its share of passenger traffic during the period.<\/p>\n\n\n\n

IndiGo’s net income increased 53% to 29.98 billion rupees ($362 million) in the three months ending December 31, according to a stock exchange filing released Friday. The airline outperformed Bloomberg’s consensus estimate of 21.27 billion rupees.<\/p>\n\n\n\n

Revenue for the third quarter exceeded expectations, reaching 194.5 billion rupees, 30% higher than the same period last year. Fuel expenses increased by 18%. Its seat capacity increased by 26.8% over the period.<\/p>\n\n\n\n

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IndiGo is expanding capacity to capture a larger share of what is one of the world’s fastest-growing aviation sectors. Its already sizable proportion, currently at 62%, has been expanding as rival SpiceJet Ltd. struggles financially, and another budget carrier, Go Airlines, filed for insolvency and ceased operations in May.<\/p>\n\n\n\n

Last year, IndiGo purchased 500 planes from Airbus SE, which might help it defend its position against an expanding Air India Ltd.<\/p>\n\n\n\n

IndiGo’s out-of-service aircraft have grown to the “mid-70s” from 40 the previous quarter due to mandatory Pratt & Whitney GTF engine checks, according to Chief Financial Officer Gaurav Negi during an earnings call. To avoid a capacity problem, the carrier will use wet leasing aircraft, he said.<\/p>\n\n\n\n

Still, it plans to raise seat capacity by 12% in the fourth quarter compared to the previous year.<\/p>\n\n\n\n

The airline flew 24.3 million passengers from October to December, a 23% increase over the previous year, according to the country’s aviation regulator.<\/p>\n","protected":false},"excerpt":{"rendered":"

By – Shubhendra Singh Rajawat IndiGo Q3 Results: Net income increased 53% to 29.98 billion rupees ($362 million) in the three months ended December 31, according to IndiGo. IndiGo, India’s largest airline, posted a profit for the sixth consecutive quarter, as the budget carrier increased its share of passenger traffic during the period. IndiGo’s net […]<\/p>\n","protected":false},"author":2,"featured_media":2388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[34,20],"tags":[37,433,253,438,68,40,39,437,55,434,435,436,439,47,48,19,42],"_links":{"self":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts\/2387"}],"collection":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=2387"}],"version-history":[{"count":1,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts\/2387\/revisions"}],"predecessor-version":[{"id":2390,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts\/2387\/revisions\/2390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/media\/2388"}],"wp:attachment":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=2387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=2387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=2387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}