IndiGo plans to raise Rs 3,500-4,000 cr as air travel takes a severe hit

Passenger numbers yesterday dropped below 100,000 for the first time since September

IndiGo, India’s largest airline, is in talks to raise fresh funds as a second wave of pandemic has led to collapse in travel demand. The airline may look to raise Rs 3,500-4,000 crore.
 
On Monday, only 97,761 passengers flew. With flyers cancelling bookings, airlines had to put aside flights and operated only 1,306 of them. Both the numbers are the lowest since August 28, when traffic had crossed 100,000 since air transport had reopened on May 25 after a two-month lockdown.
 
IndiGo had in January shelved plans to raise up to Rs 4,000 crore through a qualified institutional