Saturday, August 11, 2018

IndiGo expects airfares to rise

Market leader IndiGo, which flies 40% of the total domestic passenger flown in India, expects airfares to change course and move up, its top executive said at the Annual General Meeting held in New Delhi on Friday.

The airline reported a 97% decline in profits during the first quarter of the current fiscal on the back of lower yields worrying investors, who raised it at the airline’s third annual general meeting.

“Our competitors are focused on filling their seats. So, we are not getting the advantage of last-minute fare from business travellers. Over time, we expect that fares to move up and we take comfort that we have the strongest balance sheet in the industry,” its CEO-designate Greg Taylor told shareholders at the AGM on Friday.
The investors raised concern over falling profits of the airline and also on the issues with Airbus 320 (NEO) engines.
10/08/18 Economic Times