Indigo, the 6-year old low-fare carrier, which became the largest Indian domestic airline, a very professional and cool one at that, and the only profitable Indian airline might be slipping up as well. It seems their dream run seems to be finally coming to an end.
As per a newsreport published in the Economic Times today, Indigo has lost the plot. India’s civil aviation minister, in an address in the Indian Parliament, states that the airline made a nominal loss of Rs. 88 Crores ($15 million) in the period April 2011-March 2012. In the preceding periods of 2008-09, 2009-10 and 2010-11, the airline made a profit of Rs. 18 Crores ($3 million), Rs. 447 Crores ($80 million), Rs. 603 Crores ($110 million) respectively.
While the airline is disputing this and states it is running with a profit, there is no way to establish the number. Indigo is a private company, not listed and hence not everyone has access to their financials.
But if this is true, the Mayan Calendar end of the world theory might as well be true as well!
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