IndiGo inaugurates new MRO facility at Bengaluru International Airport
Shares of InterGlobe Aviation Ltd rallied 4.12% to Rs 1893.55 from its previous close of 1818.60 after the company inaugurates its second MRO facility.
InterGlobe Aviation Ltd which operates India’s largest domestic airline IndiGo has opened its second aircraft maintenance, repair and overhaul (MRO) centre at the Kempegowda International Airport in Bengaluru. The facility will help Bangalore International Airport to cater fast-growing fleet of Airbus SE planes. The facility will be able to handle up to two narrow-body aircraft at the same time, as well as support infrastructures such as an engine Quick Engine Change (QEC) shop warehouse and engineering offices for all repair and maintenance work. The facility was inaugurated by the airline's engineering head S.C. Gupta.
IndiGo has signed a 20-year pact with Bangalore International Airport Ltd (BIAL), which runs the airport, to sublease five acres for the 13,000 square metre facility, which will be able to handle two narrow-body aircraft, the company said in its press release. With its fleet of over 275 aircraft, the airline is operating over 1,600 daily flights and connects 75 domestic destinations and 26 international destinations.
IndiGo announced its quarterly results on November 4. The company has reported a consolidated net loss of Rs 1583.3 crore in the quarter that ended September 30, 2022. Net loss stood at Rs 1,064.3 crore in its previous quarter of Q1Y23, while in the previous year’s same quarter, net loss was reported at Rs 1,435.7 crore. The company has been continuously reporting losses in 10 out of the last 11 quarters. Revenue from operations stood at Rs 12,497.58 crore, with YoY growth of 122% compared to Rs 5,608.49 crore from the previous year’s same quarter. The company reported an EBITDAR of Rs 229.2 crore in Q2FY23 compared to Rs 340.8 crore in Q2FY22.
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