IndiGo’s revenue slows as India-Pakistan tensions, Air India crash weigh

An IndiGo Airlines aircraft prepares to land as a man paddles his cycle rickshaw in Ahmedabad, India, on October 26, 2015. (REUTERS/File)
Short Url
Updated 30 July 2025
Follow

IndiGo’s revenue slows as India-Pakistan tensions, Air India crash weigh

  • India’s largest carrier by market share reports 4.7% rise in revenue to $2.34 billion in April-June quarter
  • CEO says April attack in Indian-administered Kashmir, border clashes caused ” hundreds of cancelations”

NEW DELHI: Budget airline IndiGo posted slower first-quarter revenue growth on Wednesday, weighed down by subdued demand following border tensions between India and Pakistan and a fatal Air India crash during the quarter.

India’s largest carrier by market share reported a 4.7% rise in revenue to 204.96 billion rupees ($2.34 billion) in the April-June quarter, a sharp slowdown from the 17.3% growth logged a year ago.

“The June quarter was shaped by significant external challenges that created headwinds for the entire aviation sector,” Chief Executive Pieter Elbers said in a statement.

An April attack on civilians in Indian Kashmir, followed by border clashes between India and Pakistan led to “hundreds and hundreds of cancelations,” Elbers said in a post-earnings media call.

India has blamed Islamabad for the attack, which the latter has denied.

Shortly after, an Air India plane crashed in Ahmedabad and killed 260 people in June, spurring flying anxiety among many travelers.

“All in all, that has led ... to (have) some impact on the market,” Elbers said, but added that so far, the second quarter appears to be stabilizing.

Despite the recent slowdown, IndiGo has benefited from rising incomes, sustained post-pandemic domestic travel demand, along with continued fleet and network expansion.

Still, the company posted a lower quarterly profit, bogged down by ballooning foreign exchange losses.

Its yield — the average money earned from a passenger for every kilometer traveled — fell 5%.

The airline’s first-quarter capacity — measured in available seat kilometers — grew 16.4% on-year.

The firm had projected a “mid-teens percentage range” growth in May.


Ukraine president to meet European allies after Trump criticism

Updated 4 sec ago
Follow

Ukraine president to meet European allies after Trump criticism

  • Talks between Ukrainian and US officials in Miami ended on Saturday with no apparent breakthrough
  • President Donald Trump accuses Ukrainian leader of not reading the US proposal to end the war with Russia

LONDON: Ukrainian leader Volodymyr Zelensky was due to meet with European allies in London on Monday, after President Donald Trump accused him of not reading the US proposal to end the war with Russia.

It comes after days of talks between Ukrainian and US officials in Miami ended on Saturday with no apparent breakthrough, with Zelensky committing to further negotiations.

The Ukrainian president will be received in London by British Prime Minister Keir Starmer, along with the German chancellor and French president to discuss the negotiations.

British Foreign Secretary Yvette Cooper is meanwhile expected in Washington on Monday, where she will meet her American counterpart Marco Rubio.

“The UK and US will reaffirm their commitment to reaching a peace deal in Ukraine,” the Foreign Office in London said, announcing Cooper’s visit.

Moscow has meanwhile continued to strike its neighbor, wounding at least nine people overnight Sunday to Monday, according to Ukrainian officials.

‘Disappointed’

Zelensky said he joined his negotiators for a “very substantive and constructive” call with US envoys Steve Witkoff and Jared Kushner during the Miami negotiations.

“Ukraine is committed to continuing to work honestly with the American side to bring about real peace,” Zelensky said on Telegram, adding that the parties agreed “on the next steps and the format of the talks with America.”

But Trump criticized his Ukrainian counterpart on Sunday, telling reporters “I have to say that I’m a little bit disappointed that President Zelensky hasn’t yet read the proposal, that was as of a few hours ago.”

Witkoff and Kushner had met Russian President Vladimir Putin at the Kremlin last week, with Moscow rejecting parts of the US proposal.

French President Emmanuel Macron ahead of Monday’s talks slammed what he called Russia’s “escalatory path.”

“We will continue these efforts with the Americans to provide Ukraine with security guarantees, without which no robust and lasting peace will be possible,” Macron wrote on X.

He added: “We must continue to exert pressure on Russia to compel it to choose peace.”

Hot and cold

Washington’s initial plan to bring an end to the almost four-year war involved Ukraine surrendering land that Russia has not been able to win on the battlefield in return for security promises that fall short of Kyiv’s aspirations to join NATO.

But the nature of the security guarantees that Ukraine could get has so far been shrouded in uncertainty, beyond an initial plan saying that jets to defend Kyiv could be based in Poland.

Trump has blown hot and cold on Ukraine since returning to office in January, initially embracing Putin and chastising Zelensky for not being grateful for US support.

But he has also grown frustrated that his efforts to persuade Putin to end the war, including a summit in Alaska, have failed to produce results and he recently slapped sanctions on Russian oil firms.