Budget carrier IndiGo reported net loss of Rs 1681 crore for the quarter ended March 31, 2022. For the quarter, the airlines registered Increase in number of passengers by 10.3% compared to the same period last year. Also, a yield improvement of 19.2% and a RASK improvement of 21.7% drove improved revenue performance compared to the same period last year. Meanwhile, strong traffic rebound in the latter half of the quarter resulted into revenue from operations of Rs 8020 crore, an increase of 28.9% against a 6.3% increase in capacity compared to same period last year.
The Company’s CEO, Ronojoy Dutta said, “This quarter has been difficult because of the demand destruction caused by the Omicron virus in the first half. Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee. We believe IndiGo is best positioned to maximise revenue in a recovering market. As we work to return the airline to profitability, we are focused on maintaining our cost leadership position and continuing to build the most efficient network in the region”