⁍ The global aviation industry has been among the worst hit by the pandemic and related travel restrictions.
⁍ IndiGo, which dominates the domestic market, said its total debt as of September stood at 254,194 million rupees, up 28% from last year.
– Pandemic tourism is taking a toll on one of the world’s biggest airlines. India’s IndiGo, the country’s largest airline, reported a second-quarter loss of $166 million, Reuters reports. The airline says its average seat kilometers, or ASKs, dropped 60% from a year earlier. “We are slowly but surely stair-stepping our way back to normal capacity,” says IndiGo’s CEO. “Once we are back at 100% capacity, we will have lower unit costs, a stronger product, more efficient fleet, and a robust network.”
Source: https://www.reuters.com/article/interglobe-results/corrected-update-1-indias-top-airline-indigo-posts-quarterly-loss-on-pandemic-hit-idUSL4N2HK3ET