IndiGo posted a pre-tax loss of Rs 1,194.85 crore in Q2 September 2020, higher than pre-tax loss of Rs 1031.83 crore in the same period last year.
The airline company posted a 59.3% rise in EBITDAR to Rs 408.50 crore in Q2 September 2020 from Rs 256.40 in Q2 September 2019. EBITDAR margin improved to 14.9% in Q2 September 2020 from 3.2% registered in the same period last year.
RASK (revenue per available seat kilometre) fell by 5.4% YoY to Rs 3.24 while the CASK (cost per available seat-kilometre) grew by 19.2% YoY to Rs 4.58 in Q2 September 2020 over Q2 September 2019.
The load factor declined by 18.5 basis points to 65.1% in Q2 September 2020 from 83.54% in Q2 September 2019. Passenger load factor, or load factor, measures the capacity utilization of public transport services like airlines, passenger railways, and intercity bus services. It is generally used to assess how efficiently a transport provider fills seats and generates fare revenue.
Commenting on companys performance, Ronojoy Dutta, CEO of IndiGo said, We are pleased that we are slowly but surely stair-stepping our way back to normal capacity. While we are very much focused on managing the crisis of the present, we are also reimagining the promise of the future. Once we are back at I 00 percent capacity, we will have lower unit costs, a stronger product, a more efficient fleet and a robust network. We are impatient for the arrival of the future.
As of 30 September 2020, IndiGo had a total cash balance of Rs 17,931.80 crore comprising of Rs 6973.40 crore of free cash and Rs 10,958.40 crore of restricted cash.
The capitalized operating lease liability was at Rs 22,931.9 crore. The companys total debt (including the capitalized operating lease liability) was at Rs 25,419.40 crore as of 30 September 2020. The result was announced after market hours yesterday, 29 October 2020.
InterGlobe Aviation is a low-cost carrier. As of 30 September 2020, the company had a fleet of 282 aircraft including 117 A320 CEOs, 116 A320 NEOs, 24 A321 NEOs and 25 ATRs; a net increase of 8 aircraft during the quarter. It operated at a peak of 823 daily flights during the quarter including charter flights while providing services to 59 domestic destinations and 5 international destinations through Air bubbles.
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