IndiGo closes Q2 of the 2022-23 fiscal year in the red, loss widens to INR 15,833 million

IndiGo reported a net loss of INR 15830 million in the second quarter of the fiscal year 2022-23. The airline had reported a loss of INR 14350 million a year ago. However, revenues of the company rose to Rs 128520 million in the second quarter of the current fiscal, from Rs 57980 million a year ago. IndiGo CEO Pieter Elbers said: “September quarter was the second consecutive quarter wherein it operated at higher than pre-Covid capacity. Despite a seasonally weak quarter, we witnessed relatively good yields with strong demand across the network. However, fuel prices and exchange rates have adversely