Fuelled by robust market demand and higher revenue, InterGlobe Aviation on Thursday, May 18, flew into the profitability zone, raking in a net profit of Rs 919.2 crore in the March quarter. The parent of the country’s largest airline IndiGo, which had faced turbulence last year, had a net loss of Rs 1,681.8 crore in the three months ended March 2022.
The airline has reported its “best-ever fourth-quarter net profit of Rs 9,192 million for the quarter ended March 2023”. The total income surged nearly 78% to Rs 14,600.1 crore in the fourth quarter of the last fiscal. In the same period a year ago, the total income was Rs 8,207.5 crore.
Tag: IndiGo
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IndiGo back in black; posts Rs 919-cr profit
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IndiGo, Virgin Atlantic in codeshare pact
The country’s largest airline IndiGo and British carrier Virgin Atlantic on Wednesday announced a codeshare agreement. Under the pact, Virgin Atlantic will be allowed to sell seats to passengers connecting onto IndiGo flights. Under the partnership, customers booking a Virgin Atlantic ticket will be able to fly on the airline’s London (Heathrow) to Delhi and Mumbai flights and connect to and from seven additional cities in India. Codesharing allows an airline to book its passengers on its partner carriers and provide seamless travel to destinations where it has no presence.