IndiGo may see 10% revenue hit, DGCA steps up scrutiny

Despite a 10% cut in daily flights ordered on Tuesday, the airline may find it challenging to control costs, since it still needs more pilots.

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IndiGo shares are down 17% between 1 and 10 December.“There’s a flat 10% topline impact that we foresee now. The airline will continue to bear maintenance costs, lease payments and fuel costs. These will go up. So, the hit on Ebitda is around 30-35% for the full year,” said Gagan Dixit, vice-president, oil & gas and aviation at Elara Capital. In FY25, the airline recorded a revenue of ₹80,803 crore.

IndiGo does not give a full-year guidance beyond stating that the company was expecting capacity growth in the “mid teens”. In a late-evening disclosure to the exchanges, IndiGo said it expects passenger growth in Q3 to decline in the “mid single” range, compared to its 4 November guidance at best “slight growth”. Further, IndiGo expects “high single to early double-digit (%) growth” in capacity,” compared to the management's earlier guidance of “high teens growth”.