IndiGo Grounded More Flights In Early 2024 Due To Additional Inspections, Says CEO — NDTV Profit Exclusive

IndiGo airline operator InterGlobe Aviation Ltd. announced on Thursday that more flights were grounded during the January-March period due to additional inspections."We received information about additional inspections, which will result in more flights being grounded," Chief Executive Officer Pieter Elbers told NDTV Profit.Elbers' comments coincided with InterGlobe Aviation reporting its slowest rise in quarterly capacity during the fourth quarter of fiscal 2024. The company noted a 14.4% increase in capacity during the January–March period.Details of the total number of grounded flights were not immediately known, and Elbers declined to comment. However, during a post-earnings call following the third quarter results, the company stated that the number of grounded flights was approximately in the mid-70s..For the first quarter of fiscal 2025, InterGlobe Aviation expects a capacity increase of 10–12%, according to a stock exchange filing announcing its quarterly results.IndiGo aims to reach the same capacity level as in the first quarter of the previous financial year, the company stated in a post-earnings call. InterGlobe Aviation reported a 106% surge in net profit to Rs 1,895 crore during the January–March period. Revenue from the budget carrier rose 26% year-on-year to Rs 17,825 crore for the quarter..Brokerage Views: Citi On Indian Oil, Kotak Mahindra Bank, Motilal Oswal On IndiGo And More.IndiGo is contemplating the introduction of business class on its international flights, according to Elbers. "Internationalisation is part of our strategy," he said, noting that the airline has already taken steps on domestic routes.While the option for business class on international flights remains open, no final decision has been made regarding which routes will feature the Airbus A350 wide-body aircraft—including potential destinations in Europe, Asia, Australia, or the United States, Elbers said.Elbers highlighted that the airline has until 2027 to finalise these plans. Currently, IndiGo operates a fleet of over 367 aircraft and plans to launch business class by the end of the year.The company has nearly 1,000 aircraft on order, including 500 Airbus A320s and 30 long-range Airbus A350-900s.Shares of InterGlobe Aviation closed 1.1% higher at Rs 4,403 apiece on Thursday ahead of the earnings announcement. That compares with a 1.6% advance in the country's benchmark NSE Nifty 50..Watch the full interview here:

IndiGo Grounded More Flights In Early 2024 Due To Additional Inspections, Says CEO — NDTV Profit Exclusive

Elbers' comments coincided with InterGlobe Aviation reporting its slowest rise in quarterly capacity during January-March 2024.

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IndiGo Grounded More Flights In Early 2024 Due To Additional Inspections, Says CEO — NDTV Profit Exclusive

Elbers' comments coincided with InterGlobe Aviation reporting its slowest rise in quarterly capacity during January-March 2024.

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