Absolute ceiling to turbulence? How a revolving door, a bet gone wrong are putting a drag on IndiGo
Synopsis
In a few weeks, IndiGo is expected to announce its fourth-quarter results, taking its three-year cumulative loss to a whopping INR12,000 crore. While a part of the blame for the huge loss could be on the pandemic, conversations with more than a dozen people aware of the airline’s functioning reveal something more worrying.
When IndiGo CEO Rono Dutta got on to the airline’s quarterly-results call in the summer of 2021 and announced a record loss, there was no hint of grief in his voice. Though India’s only dividend-paying airline had incurred a loss of INR6,000 crore, Dutta was sanguine. “I really think this is almost like a ‘Cinderella moment’ for IndiGo… The bottom line looks ugly, but very soon, things are going to get a lot better,” Dutta, 69, told analysts,
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
Why ?
Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors
Stock analysis. Market Research. Industry Trends on 4000+ Stocks
Clean experience with
Minimal AdsComment & Engage with ET Prime community Exclusive invites to Virtual Events with Industry Leaders A trusted team of Journalists & Analysts who can best filter signal from noise
For all the latest Automobiles News Click Here
For the latest news and updates, follow us on Google News.