|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||1,634.05 - 1,684.40|
|52-week range||771.30 - 1,787.00|
|Beta (5Y monthly)||0.50|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||973.44|
Interglobe Aviation Ltd, which runs India's largest airline IndiGo, reported a quarterly loss on Thursday as pandemic-related travel restrictions continued to dent its operations. The global aviation industry has been among the worst hit by the pandemic and related travel restrictions. "We are slowly but surely stair-stepping our way back to normal capacity," Chief Executive Officer Ronojoy Dutta said in a statement.
IndiGo, India's largest airline, said on Wednesday it planned to raise at least 20 billion rupees ($268 million) through the sale and leaseback of planes and other assets, after reporting its steepest quarterly loss in at least five years. Chief Financial Officer Aditya Pande said the airline, owned by Interglobe Aviation Ltd, would consider raising even more than 20 billion rupees and the board would meet on Thursday to discuss this. "Managing cash continues to remain our primary focus and we continue to work with all our stakeholders to raise liquidity," Pande told analysts on a call, adding it was in advanced talks on selling and leasing back some of its unencumbered assets.
IndiGo, India's biggest airline, plans to cut up to 40 billion rupees ($533 million) in costs and speed up the return of older planes to leasing companies as it grapples with the fallout from the coronavirus pandemic. IndiGo has around 120 older A320ceo planes that cost more to maintain and plans to return them to leasing firms over the next two years, depending on demand, CEO Ronojoy Dutta said, adding domestic travel was likely to return sooner than international. "In times like these, we must shift our focus from profitability and growth to managing cash and liquidity," Dutta said, after parent Interglobe Aviation reported a swing to a quarterly net loss.