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IndiGo Eyes Ticket Price Hike Amidst Soaring Fuel Costs
29 Oct
Summary
- IndiGo reported a Rs 1,879.1 crore net loss for the September quarter.
- Fuel costs surged by 67.2% year-on-year, impacting profitability.
- The airline is considering ticket price increases to offset expenses.
IndiGo is considering raising ticket prices to mitigate the impact of a sharp rise in fuel costs, which have significantly affected its profitability. The airline reported a net loss of Rs 1,879.1 crore for the September quarter.
Fuel expenses surged by 67.2% year-on-year, reaching Rs 9,966.8 crore during the quarter. CEO Willie Walsh stated that the airline has limited options for further cost reductions due to its already efficient structure.
Despite efforts to trim expenses, Walsh cautioned that significant cost savings are unlikely. The airline also plans to review its network and capacity to better manage elevated fuel prices, which are expected to remain high throughout the remainder of the year.
