Saturday, August 11, 2018

IndiGo to use cash 'wisely' amid uncertainties in aviation sector

New Delhi: IndiGo's parent InterGlobe Aviation today said it would utilise cash "wisely" and weather the current storm in the aviation sector even as it indicated that hiking airfares could become counter productive.
No-frills airline IndiGo is the country's largest carrier with nearly 41 per cent market share.

At InterGlobe's annual general meeting here today, the company's Chief Financial Officer Rohit Philip said it is cautious from the financial perspective in "using cash wisely" as he sought to allay shareholders apprehensions about the prevailing scenario in the airline industry.

"We also want to be cautious with our cash balance given that uncertainty in the economic environment. You always have to preserve cash in this business, we are obviously very cautious from the financial perspective in using our cash wisely," he said.
The aviation industry is grappling with multiple headwinds, including high fuel prices and low fares amid intense competition.
10/08/18 PTI/Times of India