Struggling industry: An IndiGo aircraft prepares to depart from Mumbai. The budget airline posted a loss of US$157mil in the three months through March. — Bloomberg
NEW DELHI: IndiGo, one of Asia’s biggest budget airlines, reported a wider-than-anticipated loss as passenger traffic shrank with the coronavirus tearing through India.
The carrier, operated by InterGlobe Aviation Ltd., posted a loss of 11.5 billion rupees (US$157mil or RM648mil) in the three months through March, its fourth quarter. That compared with a loss of 8.7 billion rupee (RM491mil) a year ago. The average forecast from analysts was for a loss of 4.5 billion rupees (RM254mil).
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