Interglobe Aviation on Wednesday reported a net loss of Rs 2,844.3 crore for the three months ended in June, as the coronovirus epidemic significantly affected the airlines.
The parent of IndiGo, the country’s largest airline, had a net profit of Rs 1,203.1 crore in the year-ago period.
The total revenue of the airline declined by 88% to Rs 1,143.8 crore in the first quarter of the current financial year. According to the regulatory filing, it stood at Rs 9,786.9 crore in the year-ago period.
Revenue from operations declined 91.9% to Rs 766.7 crore for the quarter under review, compared to the year-ago period.
SpiceJet Takes Rs. 807-Crore Loss for the March Quarter
SpiceJet on Wednesday reported a net loss of Rs 807.1 crore for the fourth quarter ended March 2020 due to a coronavirus-induced lockdown, leading to a travel ban.
The airline said it had posted a net profit of Rs 56.3 crore in the same quarter of the previous financial year. For the entire financial year 2019-20, its net loss was Rs 934.8 crore as against a net loss of Rs 316.1 crore in 2018-19.
Jet Airways’ loss widens to Rs 5,536 crore in FY16
Jet Airways, which is going through a insolvency resolution process, saw a loss of Rs 5,535.75 crore in the year ending in March 2019, mainly due to increased expenses.
The airline, which ceased operations in April last year, incurred a loss of Rs 766.13 crore in 2017-18. In 2018-19, its total income declined by Rs 23,314.11 crore to Rs 23,958.37 crore, compared to the previous fiscal.