InterGlobe Aviation, the parent company of IndiGo, reported a loss of 9.89 billion rupees for the three months ending September 30, a sharp decline from a profit of 1.88 billion rupees during the same period last year, as reported by news agency Reuters.

Despite the losses, IndiGo's CEO, Pieter Elbers, highlighted that the airline's growth and expansion are ongoing, with a 14.6 percent year-over-year increase in revenue, reaching 178 billion rupees in the second quarter. However, he acknowledged that the traditionally weaker second quarter was exacerbated by challenges related to grounded aircraft and escalating fuel costs. “We have turned the corner as the number of grounded aircraft and associated costs have started to reduce,” Elbers stated.

In a strategic move to enhance customer experience, IndiGo plans to launch its business class in the coming two weeks. The airline also expects a rise in third-quarter capacity, measured in Available Seat Kilometers (ASKs), by early double digits compared to the same period in fiscal year 2024.

The company reported a robust total cash balance of Rs 39,341 crore, comprising Rs 24,359 crore in free cash and Rs 14,982 crore in restricted cash, providing a strong financial foundation moving forward.