DALLAS — Yesterday, low-cost Indian carrier IndiGo (6E) reported its highest-ever quarterly revenue and net profit of ₹171,609m (US$2,071,852.96) and ₹30,906m (US$373,131.23) respectively for the quarter that ended on June 30, 2023.
IndiGo carried 26.2 million passengers in the first quarter of the 2024 fiscal year, with a load factor increase of 9%, from 79.6% in June 2022 to 88.6% in June 2023. However, despite a 12.7% reduction in fuel costs, the quarter ended with a 1.2% reduction in yield (₹/Km), from 5.24 ₹/Km to 5.18 ₹/Km.
Mr. Pieter Elbers, CEO, said, “I am pleased to report a solid start to the year building on the positive momentum from the last two quarters. We produced strong operational performance and welcomed the highest number of quarterly passengers, which enabled us to generate the highest quarterly revenue and net profit for the quarter.”
As of 30th June 2023, IndiGo’s fleet comprises 316 aircraft including 20 A320 CEOs, 166 A320 NEOs, 87 A321 NEOs, 39 ATRs, 2 A321 freighters, and two Boeing 777 (damp lease).
The airline added 12 passenger aircraft during the quarter. IndiGo operated at a peak of 1,873 daily flights during the quarter to 78 domestic and 22 international destinations.
The airline placed a record-breaking firm order of 500 Airbus A320neo family aircraft at the 2023 Paris Air Show, with deliveries starting in 2030.
Featured image: Alberto Cucini/Airways