IndiGo has reported a 97% fall in profits to $4million in the three months to June, which is its worst quarterly result since listing in 2015. The airline has been hit by rising fuel prices, which has been exacerbated by the jet fuel tax in India, as well as a weakening rupee that has hit revenue. The airline has also been forced to lease more aircraft to cope with the capacity issues created by the grounded of its A320neos powered by Pratt & Whitney engines that has been hit by entry into service problems. “We remain cautiously optimistic and hope
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