Business class comfort in budget carrier IndiGo coming soon from this year

IndiGo announced it will offer business class services on its flights by the end of 2024, the domestic airline said in an exchange filing on May 23. The premium class travel option will be offered on the busiest and the business routes, the airline said in the filing. The carrier will announce more details about the offers, launch date and routes in August this year. 

“Over the past 18 years, India’s and IndiGo’s growth story have been closely interlinked. We believe as India gears up to become the third largest economy in the world, it’s our privilege to provide the New India even more options to choose from as they travel business. We are excited with this new phase and tailor-made product in IndiGo’s evolution and strategy and aim to further give wings to the nation, by connecting people and aspirations,” Pieter Elbers, CEO of IndiGo, said. 

InterGlobe Aviation Ltd, which operates the budget airline IndiGo, on May 23 reported a 106 percent year-on-year (YoY) jump in net profit at Rs 1,894.80 crore for the March quarter compared with Rs 919.20 rcore in the same quarter last year. 

The airline said the June quarter capacity in terms of available seat per kilometre (ASK) is expected to increase 10-12 percent compared with the first quarter of fiscal year 2024.  

The airline said its revenue from operations climbed 25.9 percent YoY to Rs 17,825.30 crore for the fourth quarter. Excluding foreign exchange loss, profit amounted to Rs 2,060 crore compared with a profit of Rs 666.40 crore YoY, IndiGo said in an exchange filing. 

For the quarter, passenger ticket revenues stood at Rs 15,600 crore, up 25.5 percent. Ancillary revenues stood at Rs 1,719.40 crore, up 18.9 percent YoY. InterGlobe Aviation said its capacity for the quarter increased 14.4 percent YoY to 34.8 billion. Passenger increased 14 percent YoY to 26.7 million. 

IndiGo had a total cash balance of Rs 34,737 crore comprising Rs 20,823 crore of free cash and Rs 13,914 crore of restricted cash. The capitalised operating lease liability stood at Rs 43,488 crore. The total debt (including the capitalised operating lease liability) stood at Rs 51,280 crore.