(MENAFN- Bangladesh Monitor)
New Delhi: IndiGo is poised to venture into the business class segment on select routes, as confirmed by Chief Executive Officer Pieter Elbers during an investor call on Thursday( May 23).
Elbers further announced that IndiGo will unveil the launch dates for these new business products in August.
During the earnings conference call, IndiGo's CEO Pieter Elbers highlighted the airline's significant achievements in FY24, including its highest-ever income.
This marks the sixth consecutive quarter of profits for the low-cost carrier.
On the introduction of business class, Elbers stated, "We will introduce tailor-made business products on select routes. We aim to provide a desirable option for our passengers. As India's landscape evolves rapidly, so do the needs of travelers. Against this backdrop, we are gearing towards launching a business product by the end of this year. More details on routes will be disclosed in August. Our premium products will embody the distinct IndiGo essence, aligning with our comprehensive strategy."
He also mentioned that IndiGo's order book is nearly reaching 1000 aircraft and the airline will be receiving one new plane every week.
Elbers expressed confidence that the airline's widebody plans will not impact current codeshare agreements and they will continue to expand.
IndiGo's target is to have over 600 aircraft by the end of this decade.
Gaurav Negi, CFO of IndiGo, commented, "Capacity has increased by 21.8pc. In FY24, we added 65 aircraft. We anticipate adding 10-15pc capacity in the first quarter of FY25.
The revenue environment in Q1FY25 mirrors that of Q1FY24. We expect certain inflationary pressures, particularly in maintenance and airport fees, creating inflationary pressure in high single digits."
Previously, InterGlobe Aviation Ltd, the parent company of IndiGo, reported a record-breaking profit of ₹8,172 crore for fiscal year 2024 on Thursday (May 23).
The company also disclosed a net profit of ₹1,894 crore for the fourth quarter, marking its sixth consecutive quarter of profitability.
Revenue from operations surged 26pc to ₹17,825.3 crore against ₹14,160.6 crore in the corresponding period of the previous fiscal year.
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