IndiGo Q2 loss narrows to ₹1,879.1 crore as fare gains partly offset fuel-cost surge

IndiGo narrowed its consolidated net loss to ₹1,879.1 crore in the second quarter of FY2027 (Q2 FY27) from ₹2,582.1 crore a year earlier as higher passenger yields partly cushioned the impact of surging fuel costs amid geopolitical tensions in the Middle East. The airline had reported a loss of ₹2,582.1 crore in the year-ago quarter.

The September quarter was marked by exceptionally high fuel costs and continued geopolitical uncertainty, alongside seasonally softer travel demand. Elevated crude oil prices kept pressure on the airline’s earnings.

Total expenses rose 18.6% to ₹26,188.4 crore from ₹22,081 crore. Fuel expenses were the biggest drag, climbing 67.2% to ₹9,966.8 crore from ₹5,961.8 crore.

Passenger yield—the revenue earned per passenger kilometre—rose 34.3% to ₹6.30, helping revenue from operations increase 25.9% to ₹23,363.8 crore. However, the improvement in yields only partially offset the higher cost base. Capacity, measured in available seat kilometres (ASK), fell 1%, while passenger traffic declined 4.7% to 2.75 crore. The passenger load factor slipped 2.2 percentage points to 80.3% from 82.5% a year earlier. Rupee depreciation added to the pressure by increasing the cost of dollar-denominated expenses, including aircraft leases and maintenance.