IndiGo reports Rs38.5B profit for 3Q24 up from Rs30.5 B |

The Delhi-based low-cost airline IndiGo reported a profit of Rs 38.5 billion, excluding the impact of currency movement, for the quarter ending December 31 last year, compared to a profit of Rs 30.5 billion during the same period. The airline said that, including the impact of foreign exchange, the net profit for the quarter aggregated to Rs 24.5 billion. During the latest quarter, the airline’s fuel bill declined to Rs 64.22 billion from Rs 68.41 billion, registering a 6.1 percent decline. Total income for the quarter ended December 2024 was Rs 229.93 billion, an increase of 14.6 percent over the same period last year. For the quarter, the airline’s passenger ticket revenues were Rs 192.68 billion, a rise of 12.3 percent, while ancillary revenues increased 22.3 percent to Rs 21.53 billion compared to the previous period. The airline’s capitalized operating lease liability was Rs 495.94 billion, and its total debt (including the capitalized operating lease liability) was Rs 651.39 billion, according to a statement to the stock exchange. IndiGo reported that in the latest quarter, its capacity increased by 12 percent to 40.8 billion, carrying 31.1 million passengers, an increase of 12.7 percent. Commenting on the latest results, Pieter Elbers, CEO of IndiGo, said, “We delivered a strong third quarter of financial year 2025, both operationally and financially. These results were driven by robust demand in the market and our ability to cater to that demand supported by lower fuel prices.” The airline had a fleet of 437 aircraft, including 45 A320 CEOs (19 damp lease and six secondary leases), 199 A320 NEOs, 128 A321 NEOs, 48 ATRs, 3 A321 freighters, 12 B737 (damp lease), and two B777 (damp lease); a net increase of 27 passenger aircraft during the quarter ended December 31 last year. Entry into Europe soon? During the telephone call with analysts, Elbers said, “We are exploring interim solution for early introduction of long range aircraft through wet lease.” Earlier this year, social media was abuzz with the news that the airline was taking Boeing 787 aircraft on a wet lease from Norse Atlantic Airways. At that time, IndiGo stated without confirming whether it had taken the aircraft on lease. It had said, “IndiGo is committed to constantly evolve to provide our customers an alternate and differentiated travel experience, which is best in class. In April, IndiGo announced the order for wide-body A350-900 aircraft with deliveries starting 2027 and alongside the XLR aircraft expected next year (2025), IndiGo is well positioned to expand our geographic reach and serve the ever-growing demand for international travel to and from India. In order to address this growing demand and in keeping also in mind global supply chain challenges, IndiGo is exploring interim solutions for an earlier introduction of long range aircraft to its fleet. Route and network opportunities related to these solutions are being explored at present.” The Indian media further reported that the airline had advertised for station managers’ positions in Amsterdam, London, and Paris (IndiGo seeks airport managers at London Heathrow, Paris, and Amsterdam - The Economic Times). While not announcing which international routes IndiGo will operate on in the future, in the conference call with analysts, Elbers said that the airline aims to end this year with at least 40 international destinations. During the current quarter, the airline operates at 34 international destinations. Elbers added that 28 percent of the Aviation Seat Kilometer (ASK) comes from international, which stood at 20 percent a couple of years back. ASK is calculated by dividing the number of available seats by the distance flown by the airline. Stretch product on more routes Stretch, which is IndiGo’s business class product, is to be soon expanded to Chennai in southern India and will be extended to 10 new routes, Elbers said on the call. The Stretch product was introduced in November last year. The Stretch product is available only on domestic routes, mainly connecting the metro cities. Elbers said that the airline will have 40-45 aircraft with the Stretch product by the end of the calendar.

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