Passenger Transportation Services
Indian airline IndiGo reports quarterly loss due to capacity restrictions and declining rupee
IndiGo, India's budget airline, reported a loss for the fourth quarter?on Friday. The country's leading airline was struggling with a deteriorating rupee and soaring fuel costs. The airline reported a loss for the quarter ending March 31 of 26.62 billion rupies ($280.2m), compared to a profit of 30,73 billion rupies in?the previous period. The airline was forced to reduce its domestic capacity in the third quarter by 10% after being ordered to do so by the aviation regulator of the country. This followed a series of mass cancellations that occurred during December, which led to the worst aviation crisis of...