BENGALURU:Country's biggest airline IndiGo reported a bigger loss in the September quarter, hurt by higher expenses and as the aviation industry grapples with slowing passenger growth in a sluggish economy.The airline's owner InterGlobe Aviation's net loss in the three months to September 30 widened to Rs 1,066 crore($150.1 million) from Rs 650 crorein the same period last year.Expenses rose 27.6 per centto Rs 9,577 crore.
Depreciation and amortisation costs grew more than fivefold to Rs 1,029 crore, while costs related to aircraft repair and maintenance nearly doubled to Rs 153 crore rupees.Aircraft fuel costs, meanwhile, rose a modest 2.6 per cent, much lower than the 84 per centjump a year earlier.The results come against the backdrop of an escalating tussle between IndiGo co-founders Rakesh Gangwal and Rahul Bhatia over corporate governance issues, which some analysts say could hinder high-level decision making at the airline.The quarterly loss also comes as Asia's third-largest economy grows at its slowest pace in years and domestic passenger growth cools.Passenger traffic in India rose only 1.2 per centyear-over-year in September, the slowest increase since March and the second worst pace in five years.Still, IndiGo's quarterly revenue from operations surged 31 per cent to Rs 8,105 crore as the Gurugram-based carrier flew more customers and introduced new destinations.IndiGo and smaller rival SpiceJet have benefited so far this year from the collapse of cash-strapped Jet Airways, once country's largest private carrier, as both raced to fill Jet's vacated slots.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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