The DGCA issued figures on Friday that showed IndiGo’s domestic market share increasing to 61.6% in May.
The parent company of budget airline IndiGo, InterGlobe Aviation, announced on Friday that it will get a “customised” payment for grounded aircraft from International Aero Engine (IAE), a subsidiary of aircraft engine manufacturer Pratt & Whitney.
“On June 14, 2024, InterGlobe Aviation Ltd finalised an amendment to the existing agreement with International Aero Engines, LLC, an affiliate of Pratt & Whitney pursuant to which IAE will provide IndiGo with a customised compensation in relation to the ongoing situation of aircraft on ground due to unavailability of engines,” InterGlobe Aviation stated in a regulatory filing.
However, the compensation amount was not disclosed by the corporation.
A significant portion of IndiGo’s fleet is grounded due to supply chain and engine problems.
The airline had stated in February that there were roughly seventy planes on the ground.
The only domestic airline turning a profit is the low-cost carrier based in Gurugram.
Its March quarter earnings after tax more than doubled to Rs 1,894.8 crore, driven by improved external conditions, more capacity, and increased traffic.
The airline reported a record total income of Rs 18,505.1 crore for FY24, with a net profit of Rs 8,172.5 crore.
Thirteen of the airline’s 367 aircraft were on wet lease as at the end of March.
According to the figures issued by the DGCA on Friday, IndiGo’s domestic market share increased to 61.6 percent in May.