Weekly News Debrief: 20-26 January
NEWS HEADLINES THIS WEEK: IndiGo Reports Decline in Q3 Profit Due to Forex Losses InterGlobe Aviation, the operator of IndiGo, announced an 18.6% decrease in net profit for the third quarter ending December 31, 2024. The profit fell to ₹2,448.80 crore from ₹2,998 crore in the same period the previous year. This decline is primarily attributed to a significant foreign exchange loss of ₹1,456.4 crore, stemming from the depreciation of the Indian rupee. Despite steady air travel demand and lower fuel costs, overall expenses increased by 20%. Excluding forex losses, the airline's profits saw a 26% rise. Passenger yields decreased by 1%, while revenue grew by 13.7% to ₹22,110.70 crore. IndiGo also reported a 12% increase in available seat kilometers (ASK) and anticipates a 20% year-on-year growth in ASK for the January-March period. Emirates A380 Makes Emergency Landing in Bengaluru On January 24, 2025, an Emirates Airline Airbus A380, operating flight EK342 from Dub...