IndiGo

The airline had posted a net loss of Rs 620.1 crore in the year-ago quarter. Its total income for the quarter ended December 2021 was Rs 9,480.1 crore, representing an increase of 63.5 per cent over the same period last year. Its passenger ticket revenues were Rs 8,073.1 crore, an increase of 98.4 per cent and ancillary revenues at Rs 1,141.7 crore, an increase of 41.3 per cent compared to the same period last year.

Prices of Aviation Turbine Fuel (ATF) typically take cues from benchmark crude oil for price discovery. According to reports, earlier in the month, ATF price was hiked by Rs 2,039.63 per kilolitre, or 2.75 per cent, to Rs 76,062.04 per kilolitre in Delhi. Global crude oil prices are currently at around a seven-year high.

According to Ronojoy Dutta, Whole Time Director and Chief Executive Officer, IndiGo, civil aviation provides efficient infrastructure critical for economic growth and employment in the country. "Yet civil aviation pays 21 per cent of its revenues to the government in indirect taxes with very little input credit. It is an unreasonable proposition to expect that the industry should earn a 21 per cent margin just to pay taxes to the government," Dutta said.

A codeshare agreement allows airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. With this new partnership, Air France and KLM will offer their customers access to 25 new Indian destinations. "From their hubs in Paris and Amsterdam, Air France and KLM already serve 4 destinations in India -- Delhi, Mumbai, Chennai and Bengaluru," a joint statement said.

However, the airline's net loss declined by 54.8 per cent on a sequential basis. Besides, the revenue from operations rose by 104.6 per cent to Rs 5,608.5 crore from Rs 2,741 crore earned during the corresponding quarter of the previous quarter.

In aviation parlance, a codeshare agreement allows airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. Accordingly, the agreement on 29 of IndiGo's domestic routes in India will provide a wider travel option for American Airlines' customers arriving on the carrier's new Bengaluru and Delhi flights.

These 38 flights will include 24 connecting flights, two new flights and 12 flights that the airline will be relaunching after the second wave of the Covid-19 pandemic. IndiGo said in a statement that it will operate new flights between Raipur and Pune, besides restarting flights between Lucknow-Ranchi, Bengaluru-Vishakhapatnam, Chennai-Indore, Lucknow-Raipur, Mumbai-Guwahati and Ahmedabad-Indore routes.

Industry insiders alleged that the airline ferried few passengers, who violated travel testing norms for entering the UAE. The airline in a statement said that all flights to the gulf country have been cancelled due to operational issues "Due to operational issues, all IndiGo flights to UAE stand cancelled till August 24, 2021," the airline said in a statement.

"Our financial results for the first quarter were severely impacted by the second Covid wave. The number of passengers travelling declined sharply in the months of May and June. With the second Covid wave receding, we are seeing a measured recovery in bookings for July and August," CEO Ronojoy Dutta said. the airline said it has a "strong balance sheet" with a total cash of Rs 17,067.9 crore.

IndiGo's Chief Commercial Officer William Boulter said: "We have witnessed increasing loads and demand for travel after mid-May and look forward to achieving 80 per cent capacity utilisation that we had in February by end of this year." At present, airlines' permissible capacity deployment is at 65 per cent of pre-Covid levels applicable up till July 31, 2021.