IndiGo Shifts from Low Cost Model, Plans Business Class Offering Before Year End

India Our Bureau - : May 24, 2024 - : 5:26 pm

India’s leading Low Cost Carrier (LCC) Indio has announced an important shift form its low-cost model with the airline planning to add Business Class seating on its airplanes. Speaking during IndiGo’s Fourth Quarter and Fiscal Year 2024 Financial Results Conference Call, CEO Peter Elbers said, “keeping in mind the evolving needs and aspirations of our Indian consumers, we are taking the next step in the evolution of IndiGo.

We will be launching a tailor-made business product on the busiest routes and business routes of the country before the end of this year.”

Elbers said that there was an ever-growing need for premium travel in India and the new product would cater for business travellers. India is home to the world’s largest population and is slated to soon become the third largest economy in the world. In FY 24, the passengers served by Indian aviation industry grew by 14.5% on a year over year basis to touch a new milestone of 184 million annual passengers.

“We are truly enthused by entering this new phase and we will be unveiling more information around the offering, the routes and the launch dates in the coming August…” IndiGo operates to 88 domestic destinations with over 400 direct routes and 33 international destinations.

For FY 2024, IndiGo reported its highest ever total income of around Rupees 712 billion, which is 27% higher than FY 2023. In terms of profitability, the LCC reported an annual net profit of around Rupees 82 billion as against a marginal loss for the FY 23.

Elbers also stated that IndiGo’s current pending orderbook was a little short of 1,000 aircraft that would be delivered up until 2035.

“For many years to come, we will receive a minimum of one new plane every week.” He added that the airline had a target of a 600 plus aircraft fleet by the end of this decade in mind.

Gaurav Negi Indigo’s CFO provided an update on the carrier’s fleet updates stating that during FY 24, it added 65 aircraft including 12 damp-leased aircraft. It added nine aircraft in the quarter ended March 24.

indigo / low-budget-airlines /

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