IndiGo Reports Loss in First Quarter Amid Rising Fuel Costs
On July 23, budget airline IndiGo announced it faced losses in the first quarter of the financial year. This decline is largely attributed to the surging fuel prices impacted by the ongoing conflict in Iran.
For the quarter that ended on June 30, IndiGo reported a loss of 3.82 billion rupees (approximately $39.6 million). This is a significant drop compared to the previous year when the airline recorded a profit of 21.61 billion rupees.
As fuel prices continue to rise, the airline industry is feeling the pinch, and IndiGo’s latest financial results reflect these tough conditions.
(Reported by Kashish Tandon from Bengaluru)
