IndiGo Reports Rs 2,582 Crore Loss in Q2 Amid Forex Hurdles, Plans A321 XLR

New Delhi, November 5, 2025 – India’s largest airline, IndiGo, reported a net loss of Rs 2,582.10 crore in the September quarter, as rising foreign exchange losses and higher expenses impacted its bottom line. The airline, which had posted a loss of Rs 986.7 crore in the same quarter last year, said that hedging measures and increased revenues in foreign currencies from international operations are expected to cushion the effects of currency fluctuations.

The airline had earned a profit of Rs 2,176.30 crore in the June quarter. Its parent company, InterGlobe Aviation, recorded a total income of Rs 19,599.5 crore for the September quarter, up from Rs 17,759 crore in the same period last year. Passenger ticket revenues rose 11.2% to Rs 15,966.7 crore, while ancillary revenues grew 14.2% to Rs 2,141.1 crore. Overall, total income increased 10.4% year-on-year.

Excluding the impact of currency movements, IndiGo posted a net profit of Rs 1,039 million, compared to a net loss of Rs 7,539 million in the year-ago period. Foreign exchange losses surged to Rs 2,892.1 crore, up sharply from Rs 240.6 crore last year. Other expenses, including supplementary rentals and aircraft maintenance, increased 18.9% to Rs 3,263 crore, while total expenses for the quarter rose 18.3% to Rs 22,081.2 crore.

IndiGo CEO Pieter Elbers highlighted the airline’s strong operational performance, saying, “Optimized capacity deployment enabled a 10% growth in topline revenue, excluding currency impacts, and operational profit of Rs 104 crore compared to a loss last year. We witnessed recovery through August and September despite significant external challenges earlier in the year.”

The airline is continuing its international expansion, adding more aircraft through damp leases. Currently, the number of aircraft on ground (AOG) remains in the 40s, with expectations to remain stable until the end of the year. The airline also faces slightly higher costs due to the second phase of revised flight duty time limitation norms for pilots.

Looking ahead, IndiGo plans to induct its first long-range Airbus A321 XLR in December. The aircraft, configured with 183 economy seats and 12 stretch seats, will support new international routes and enhance the airline’s long-haul network. Combined with leased Boeing 787 Dreamliners, these additions are expected to strengthen IndiGo’s position in international markets.

The airline maintained a 64.3% domestic market share in September. Shares of IndiGo fell slightly, closing at Rs 5,635 apiece on the BSE. Despite the quarterly loss, management remains optimistic about scaling operations and revenue growth in the second half of the financial year, projecting capacity growth in the early teens.