IndiGo slips into losses due to exchange rate and higher fuel price

To deploy 60% more capacity in FY23 as it sees demand improving

Severely hit by the rise in jet fuel prices and higher exchange rate, India’s largest airline, IndiGo, posted a loss of Rs 1,681 crore in the quarter ended March 31 (Q4).

The airline’s fuel expenses increased 68 per cent to Rs 3,220.58 crore in Q4, from Rs 1,914.45 crore in the corresponding period last year. The loss was significantly higher than the average estimate of Rs 830 crore from analysts tracked by Bloomberg.

The company had reported a small, but surprise profit of Rs 128 crore in Q3.

The rise in expenses eclipsed the airline’s superior top line performance as it earned 29