IndiGo Q4 results: Is the budget airline staring at best-ever profits in Indian aviation?

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IndiGo makes long-haul foray, orders 30 wide-body aircraft How much can this translate into profits and how much has the airline earned from Pratt & Whitney as compensation will be known on Thursday. The last few months have seen airlines open up to compensation from Pratt & Whitney, which has run into millions of dollars, not all of which is a cash payout. Globally, the large airlines have reported their best-ever profits in FY24.

This has included Singapore Airlines and Emirates. Joining them would be IndiGo, which has already announced a bonus of 1.5 months' basic pay for its eligible staff, a rare thing in Indian aviation which is known more for shutdowns and failures than success and bonuses. The three quarters for which results are declared show a profit of ₹6,276 crore.

There are all indications of a yearly profit like never before, especially if the Pratt & Whitney compensation is finalised and accounted for. The airline has seen a 15.5 per cent growth in domestic departures and 29.8 per cent in International departures. Passenger growth has been 23.6 per cent and 37.6 per cent for domestic and international, respectively, while capacity by ASK (available seat per kilometre) grew 16.7 per cent and 39.3 per cent, respectively, for domestic and international in FY24 compared to FY23.

This is despite the huge chunk of its A320neo being grounded. The airline ended the year with 100 million passengers, much in line with the number it had clocked for the calendar year 2023 as well. Also read: IndiGo announces special bonus for staff The airline’s total income crossed ₹20,000 crore last quarter.