According to fuel retailer Indian Oil Corporation, the average ATF price in Delhi stood at Rs 64,515/kl during the April-June period, lower 1.6% y-o-y.
InterGlobe Aviation on Friday reported its highest-ever quarterly profit at `1,203 crore in the April-June quarter – a surge of 42 times compared to Q1FY19 – due to higher passenger revenues aided by complete grounding of Jet Airways.
While revenue from operations jumped 44.6% to `9,420 crore, operating margins or the ebitdar (earnings before interest, tax, depreciation, amortisation and rentals) was up 12.1 bps y-o-y to 29.5%.
Full-service carrier Jet terminated all operations on April 17 due to financial crisis, leading to 15% y-o-y fall in overall domestic capacities. According to the analysts, average domestic fares went up 25-30% y-o-y during Q1FY20.
The airline’s revenues were pushed up by better volumes – it carried 22.2% more domestic passengers – and better yields. The per passenger revenue stood at `4.08/km in Q1FY20, up 15.5% y-o-y.
IndiGo added several new flights linking cities like Delhi, Mumbai, Bengaluru and Guwahati as it got around 150 slots at domestic airports which were earlier operated by Jet. It also added 84 weekly international flights to Bangkok, Dubai, Doha, Dhaka and Kuwait.
IndiGo’s capacities, measured in terms of available seat kilometres, grew 30.3% y-o-y during Q1FY20.
The budget carrier beat street expectations by clocking higher passenger revenues; the analysts tracked by Bloomberg had estimated `754 crore net profit for the budget carrier during the quarter.
IndiGo’s fuel costs jumped 15.5% y-o-y to `3,136 crore in the three months to June 2019.The prices of aviation turbine fuel (ATF) and the value of rupee remained stable during the quarter, which helped the airline contain its costs. IndiGo’s net profit had slumped 96% to `28 crore in Q1FY19 due to depreciating rupee and costlier fuel.
According to fuel retailer Indian Oil Corporation, the average ATF price in Delhi stood at `64,515/kl during the April-June period, lower 1.6% y-o-y. The value of rupee also remained flat in the comparable period. Costs such as lease rentals, repairs and maintenance are dollar denominated in the airlines business.