IndiGo - financial performance FY 2015-2020

Despite being a market leader in the Indian air carrier industry, IndiGo reported a loss before tax of nearly 2.75 billion rupees at the end of the fiscal year 2020. The company had significant losses especially in the last quarter of the financial year 2020, due to national lockdown on account of COVID-19 pandemic. This was an exception compared to the performance in previous years, where profits continually and significantly grew from 13 billion rupees in the fiscal year 2016 to over 31.2 billion rupees in the financial year 2018.  

Tough year for Indian air-carriers

  According to IndiGo’s CEO, 2019 was a year of two halves – the first involving declines resulting in losses due to high fuel prices and a weak rupee, in addition to fierce competition. Jet Airways’ declaration of bankruptcy earlier that year also had an impact on the industry as other companies tried to fill in its gaps. IndiGo hired 285 pilots from the Jet Airways staff and was looking to increase those numbers further.  

Reaching greater heights

  As part of expanding its wings, IndiGo launched international flights in 2011, five years after being in operation. This, along with fleet development, made the private-owned budget carrier one of the fastest-growing in 2013, after Indonesian Lion Air . A couple of years later, Airbus received its largest single order from the Indian passenger carrier. Since its last quarter recovery in fiscal year 2019, the airline was reportedly studying the inclusion of business class for its long-haul flights. With Air India hanging by a thread, and players like SpiceJet and Vistara seizing growth opportunities, IndiGo depends on innovation and development to retain its market leading position.

lnterGlobe Aviation Limited's (IndiGo) financial performance from financial year 2015 to 2020

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Source

Release date

June 2020

Region

India

Survey time period

FY 2015 to FY 2020

Supplementary notes

India's financial year starts in April and ends in March. For example, FY2019 started in April 2018 and ended in March 2019.

One Indian rupee is equal to 0.013 U.S. dollars and 0.012 euros (as of June 2020).

Values have been rounded.

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Statistics on "Air transportation in India"

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