By IndiGo nosedives to bigger loss due to Covid-19 but shares jump
It is one of Asia’s biggest budget airlines, reported a wider-than-anticipated loss over the weekend as passenger traffic shrank with the coronavirus tearing through India.
So, you feel like jumping into this frame and onto the runway too? ?#LetsIndiGo #Aviation #Monday #LeanCleanFlyingMachine pic.twitter.com/dXco5uh7Zt
— IndiGo (@IndiGo6E) June 7, 2021
The carrier, operated by InterGlobe Aviation Ltd., posted a loss of 11.5 billion rupees ($157 million) in the three months through March, its fourth quarter, widening from a loss of 8.7 billion rupees a year earlier. The average forecast from analysts was for a deficit of 4.5 billion rupees.
Still, the company’s shares were up 0.2% as of 10:39 a.m. in Mumbai on Monday having earlier jumped as much as 5.5%.
Latest News and updates, Follow and connect with us on Google News, Facebook, Twitter, and Linkedin
Get the latest updates directly on your mobile, save and send a message at +91-9899909957 on Whatsapp to start
