IndiGo Becomes The World’s 7th Largest Airline With 1,600+ Flights
IndiGo has become the world’s 7th largest airline with daily departures of more than 1,600 flights. Indigo had 279 aircrafts till the end of September 2022.
With a market share of more than 50%, IndiGo is not only India’s largest airline, but also the seventh-largest airline in the world on the basis of daily departures.
The airline currently has a national market share of even more than 57% and flies more than 1,600 times each day.
IndiGo is considering expanding its global operations in light of the increased competition and the revival of Air India under Tatas’ control.
At the end of September, the airline’s fleet consisted of 279 aircraft, including 26 A320 CEOs, 149 A320 NEOs, 68 A321 NEOs, 35 ATRs, and 1 A321 freighter.
Excluding the loss on foreign exchange of Rs 1,201.5 crore, IndiGo posted a loss of Rs 381.8 crore for the most recent quarter under review. The airline lost Rs 1,435.66 crore in the third quarter of last year.
Pieter Elbers, CEO of IndiGo, stated that the company ran at a higher capacity during the September quarter than it did before the acquisition by Covid.
“Despite a traditionally difficult quarter, we had quite excellent yields and strong network demand. However, exchange rates and fuel prices have had a negative influence on our financial performance.
“We are recovering steadily, taking advantage of a wealth of opportunities in both domestic and foreign markets.
We are developing a number of solutions to meet this high demand in an industry that is being affected by global supply chain issues, he said.
The airline reported that its capacity climbed by 75% and the number of passengers jumped by 759% to 1.97 crore during the third quarter.
The yield increased by 21% to Rs 5.07, while the load factor increased to 79.2%, according to the announcement.
“The difficulties are requiring us to consider various strategies to ensure that we have the ability to function… We are, among other things, extending some leases, delaying some re-delivery dates, and perhaps doing wet lease operations. We are currently finalizing that,” he stated.
His priorities included On-Time Performance (OTP), reasonable prices, friendly, hassle-free service, and unmatched network coverage.
Additionally, it will concentrate on improving internal structures, personnel, and procedures in line with the scope of operations, clientele, and long-term objectives.
We will add additional global goals to our solid base, he remarked. While fuel and foreign exchange remain challenges, IndiGo CFO Gaurav M Negi remarked, “We are relatively certain that we will return to commercial profitability in the 3rd quarter.”
Sanjay Kumar, the airline’s Chief Strategy and Revenue Officer, claimed that all categories are experiencing a good rebound, including traction in foreign visitor arrivals and high corporate demand.
The CEO stated that it takes “enormous operational discipline and ingenuity” to operate more than 1,600 flights every day. He noted that IndiGo’s fleet utilization is quite effective and added that the Indian market has recently been rebounding more quickly due to strong demand.
“IndiGo is currently the seventh-largest airline in the world based on departures, with more than 1,600 flights departing each day.
That is a crucial factor to consider when structuring the organization and how we allocate our resources, according to Elbers.