IndiGo Faces Losses in Fourth Quarter
May 29 (Reuters) – IndiGo, India’s leading budget airline, announced a significant loss for the fourth quarter on Friday. The airline has been grappling with challenges such as limited domestic capacity, a weakening rupee, and rising fuel costs.
For the quarter that ended on March 31, IndiGo reported a loss of ₹26.62 billion (about $280.2 million). This stands in stark contrast to a profit of ₹30.73 billion during the same period last year.
The current exchange rate is ₹95.00 for $1.
(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee)
