In the March quarter, IndiGo declared a profit of £91.9 million as opposed to a loss of £168.2 million in the prior quarter. Compared to a loss of £616.2 million in 2021–2022, the largest airline in India posted a loss of £30.6 million in 2022–203.
IndiGo operates over 300 aircraft and the airline’s CEO Pieter Elbers says it will double its fleet by 2030. Elbers said, “With a combination of robust market demand and focused execution of our strategy, this was the second consecutive quarter wherein we produced strong operational and financial results, as we reported the highest-ever fourth quarter net profit.”
IndiGo had returned to black after Covid with its highest-ever quarterly profit and revenue in October-December 2022 at £142.3 million and £1.54 billion, respectively. In Q2 and Q1, its losses were £158.3 million and £106.4 million, respectively. The profits of the third and the fourth quarters largely compensated for the losses incurred in the first and the second quarters.