InterGlobe Aviation Ltd., the parent company of IndiGo, reported a net loss of INR 23.94 billion for the financial year ended March 31, 2026, even as the airline posted growth in traffic, capacity and revenue. The company said its performance was affected by foreign exchange headwinds, labour law-related provisions and a difficult operating environment, but its core business remained resilient.
For FY26, IndiGo increased capacity by 9.5% to 172.4 billion available seat kilometres and carried 123.4 million passengers, up 4% year-on-year. Revenue from operations rose 5.1% to INR 849.62 billion, while total income increased 6.4% to INR 895.13 billion. Despite this growth, the airline swung from a net profit of INR 72.58 billion in FY25 to a net loss in FY26.
The company said the loss was mainly driven by foreign exchange movements and exceptional items. Excluding those impacts, IndiGo reported a net profit of INR 75.03 billion for the year, reflecting underlying strength in its operations. EBITDAR, excluding foreign exchange impact, rose 1.4% to INR 231.89 billion, while fuel costs declined 3.1% during the year. Fuel cost per available seat kilometre fell 11.5% to INR 1.47, supported by lower fuel expenses.
In the fourth quarter ended March 31, 2026, IndiGo posted a net loss of INR 25.37 billion compared with a profit of INR 30.68 billion in the same period a year earlier. However, excluding foreign exchange and exceptional items, quarterly profit stood at INR 19.21 billion. Capacity in the quarter increased 3.4% despite disruptions linked to the ongoing conflict in the Middle East.
Rahul Bhatia, Managing Director of IndiGo, said FY26 was marked by an “exceptionally challenging operating environment” that had a material impact on profitability. He said the airline continued to deliver resilient underlying performance, with capacity growth of 9.5% and total income rising by more than 6%. Bhatia added that IndiGo maintained a strong balance sheet and substantial liquidity, and thanked customers and employees for their support and professionalism during a volatile period.
At the end of FY26, IndiGo operated a fleet of 441 aircraft and held a total cash balance of INR 516.51 billion, including free cash of INR 362.16 billion. The airline served 97 domestic and 45 international destinations during the quarter and expects capacity growth of around 3% to 4% in the first quarter of FY27.
