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IndiGo Swings Back to Loss on Virus Flareup, Higher Fuel Costs

  • Airline posts worse-than-expected loss in the March quarter
  • Fuel costs surged 69%, while total costs rose 32%: filing
The emergence of the omicron Covid-19 variant in India upended a nascent recovery.

The emergence of the omicron Covid-19 variant in India upended a nascent recovery.

Photographer: Dhiraj Singh/Bloomberg
Updated on

IndiGo, India’s biggest airline, is expecting to raise ticket prices as it works toward becoming profitable amid rising fuel expenses, which dragged the airline back into a loss in the fourth quarter.

“Profitability is on top of our minds,” Chief Executive Officer Ronojoy Dutta said in an earnings call, adding hitting the sweet spot in ticket prices is a balancing act given that demand will drop if IndiGo keeps pushing up fares, he said. “There is a tug of war going on between very good revenue performance and very challenging fuel.”