NEW DELHI: In a first for Indian airlines,
IndiGo
clocked nearly $1 billion in annual
profit
last fiscal. The airline is also planning to get comfortable for premium passengers by introducing a “tailor-made”
business class
on “India’s busiest and business” routes by the year-end — a major evolution in its 18-year-old no frills policy.
The Rahul Bhatia-founded LCC on Thursday reported a profit of Rs 1,895 crore this Jan-March, up 106% from Rs 919 crore in Q4 last fiscal.
It reported an
annual
profit of Rs 8,172.5 crore in FY24, against a loss of Rs 306 crore in the previous fiscal. The airline’s scrip closed at around Rs 4,400.6 on BSE Thursday, up 0.9%.
IndiGo CEO Pieter Elbers said, “For the full financial year 2024, we reported our highest ever total income of around Rs 71,200 crore (up 27% over FY23)… all four quarters in FY24 (were) profitable.” India’s largest airline by market share had a total cash balance of Rs 34,737.5 crore this March-end.
With a strong balance sheet, IndiGo on Thursday announced the next big step in its evolution — business class on some routes by the year-end. For the last 18 years, Elbers said, the airline focussed on three customer promises — “affordable fares, on-time performance and hassle-free, courteous service”.
Now “almost 18 years and all grown up — it’s time to take the next step in the evolution of IndiGo. Considering India’s soaring economy and the evolving aspirations of Indian society, it’s time for IndiGo to redefine premium travel in India, increasing availability of this service for the nation. It will create a desired option for many who are aiming to travel business, perhaps for the first time in their lives,” the airline said in a statement.
Details on the business class product offerings, launch date and routes will be announced this Aug, around IndiGo’s anniversary.
Among current LCCs, AI Express and Akasa have 2x2 seats in first few rows on some of their new Boeing 737 MAX. But that is a temporary phenomenon.SpiceJet also has a business offering.
English (US) ·