IndiGo's turbulent ride in Q2: Airline battles higher fuel costs, grounded aircraft
IndiGo Airlines is feeling the squeeze as high fuel prices and an unusual number of grounded aircraft impacted its traditionally slow second quarter, revealed CEO Pieter Elbers.
Despite a 14.6 per cent year-on-year topline increase to Rs 178 billion, the airline struggled with significant cost pressures that weighed on its performance for the quarter. The airline reported a loss of Rs 987 crore in the second quarter ended September 2024. The company had reported a profit of Rs 189 crore in the September quarter of the previous year and Rs 2,728 crore in the preceding June quarter.
Like in the first quarter, the Pratt & Whitney engine issues continue to cause turbulence for IndiGo, which has affected hundreds of Airbus A320neo jets worldwide.
As informed in July, nearly 70 of IndiGo's fleet remains grounded.
Elbers acknowledged the headwinds and said, “In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs.” However, he also shared a positive outlook and said, “We have turned the corner as the number of grounded aircraft and associated costs have started reducing.”
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