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IndiGo airline posts net profit of Rs 188.9 crore
India’s largest airline IndiGo is operated by InterGlobe Aviation Ltd., which reported a net profit of Rs 188.9 crore in the September quarter due to an increase in air travel, compared with a loss of 1,583 crore in the same period. last year. In what is typically a slow quarter for the travel business, total revenue rose 20.6% from the same period last year to Rs 15,503 crore. Only twice in 2016 and 2017, IndiGo, which went public in November 2015, reported a net profit for the quarter. Despite beating projections, IndiGo said it anticipates a significant capacity shortage in 2024 as a result of problems with the Pratt & Whitney engines that power its A320 neo and A321 neo aircraft.
P&W stated in July that to evaluate a problem with the metal used in the production of parts for the PW-1100G engine, it needed to test 1,200 engines worldwide. There are 150 of these aircraft operated by IndiGo, however, it is not clear how many of them would be affected.” We currently project that these expedited inspections, along with additional shop visits, will negatively impact our operating fleet beginning in the fourth quarter and continuing through the end. January 1, 2024, resulting in an increased number of strandings.” The number of planes (that will be affected) is unknown, but it may take 250 to 300 days until all engines being recalled are inspected, Chief Financial Officer Gaurav Negi told investors during a post-earnings conference call. of the company.
The airline is making efforts to make up for the capacity shortfall, and has already grounded forty aircraft due to previous problems with P&W engines. In addition to extending leases and reinstating 36 aircraft, it has already maintained 14 A320ceos with current engine options in its fleet and has completed wet leases for two of those aircraft on the Istanbul route. Eleven other aircraft have been introduced with wet leases and will enter service this month. A further twelve A320ceos are being leased on the secondary market with deliveries scheduled to begin in January 2024.
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Source: vtt.edu.vn