InterGlobe Aviation, the parent company of the country’s largest airline IndiGo, has released the results for the March quarter. In the March quarter of the last financial year, the company’s profit more than doubled to Rs 1,894.8 crore. The airline had made a profit of Rs 919.2 crore in the same quarter a year ago. The company’s total income increased from Rs 14,600 crore to Rs 18,505.1 crore in the March quarter.
what did the ceo say
IndiGo CEO Peter Elbers said – Financial year 2023-24 has been a year of many great achievements and new milestones. Strong execution of the company’s strategy has delivered consistent results. Along with this, IndiGo has announced to start ‘Business Category’ services in its flights on busy air routes this year. Peter Albers said the airline is constantly considering new service offerings.
Albers said – As India is preparing to become the third largest economy in the world, it is our good fortune to give the new India more options to choose from in the travel business. We are excited about this new phase and our strategy and objective is to give wings to the country by connecting people and aspirations.
Emphasis on buying aircraft
IndiGo is continuously insisting on purchasing aircraft. The airline has begun discussions with aircraft manufacturers to purchase 100 small aircraft to expand its presence on regional routes. IndiGo currently has an operational fleet of 355 aircraft. Apart from 45 ATRs, there are 193 A320 Neo, 20 A320 CEO, 94 A321 and three A321 cargo planes. Let us tell you that in June last year, the airline had placed an order for 500 aircraft to aircraft manufacturer Airbus, which is the largest single aircraft order of any airline so far.
share status
Amid the quarterly results, investors fell on the shares of IndiGo’s parent company InterGlobe Aviation on Thursday. On the fourth day of the week, the stock rose by about one percent and crossed the level of Rs 4400. During trading the share touched the level of Rs 4,440.70. This is also a high of 52 weeks.