IndiGo Share Price In Focus After Airline Cuts Q3 Guidance
The revised outlook followed the Indian government’s direction requiring IndiGo to trim 10% of its planned flights, after the airline cancelled thousands of flights last week because of inadequate pilot roster planning for new rest and duty rules. The disruption left tens of thousands of passengers stranded and grounded several aircraft.
The company said its first week of December saw about 4,500 flight cancellations, triggered by steps taken to “reset” operations after significant disruption. It said the resulting loss of revenue and additional expenses would weigh on quarterly performance.
IndiGo said it “remains committed to assisting our customers, addressing their queries and requests on a war footing,” and added, “We would…
