New Delhi:- IndiGo Chief Executive Officer Willie Walsh has said that the sharp rise in aviation fuel prices is forcing the company to increase airfares. He said IndiGo is in a strong financial position and has several options to deal with rising costs. However, the company reported a loss of Rs 1,879.1 crore in the September quarter of the current financial year.
During his first media interaction since taking charge in August, Walsh said the company's strong financial position gives it more options compared to other airlines. He added that the company could reduce certain expenses, although its cost structure is already quite efficient.
Loss of Rs 1,879 Crore in September Quarter
InterGlobe Aviation, the parent company of IndiGo, reported a loss of Rs 1,879.1 crore in the September quarter of the current financial year. The company's total income increased from Rs 19,599.5 crore in the corresponding period last year to Rs 24,311.9 crore. Despite this increase, higher expenses resulted in a loss instead of a profit.
During the quarter, the company's total expenses rose to Rs 26,188.4 crore. Expenditure on aviation fuel increased by 67.2 per cent to Rs 9,966.8 crore. The company attributed this rise to exceptionally high fuel prices and the depreciation of the rupee.
