InterGlobe Aviation reported a consolidated net loss of ₹23.9 billion for the financial year ended March 31, 2026, compared to a net profit in the previous year. The airline faced significant headwinds from foreign exchange losses of ₹48.2 billion in Q4FY26 and operational disruptions, including the grounding of Pratt & Whitney engines and geopolitical tensions in the Middle East. Despite these challenges, the carrier served 123 million passengers during the year, the highest in its history, and maintained strong liquidity with total cash of ₹516 billion.

The Board of Directors has appointed Willie Walsh as the new Chief Executive Officer, effective from early August. Walsh brings over four decades of global aviation experience. Additionally, the company announced that Aloke Singh has been appointed as Chief Strategy Officer to strengthen leadership depth.

Financial Performance

For the quarter ended March 31, 2026, the company reported a total income of approximately ₹238 billion, a 3% increase year-on-year. However, it recorded a net loss of ₹25.4 billion for the quarter, compared to a net profit of ₹30.7 billion in the same period last year. The primary drivers for the quarterly loss were foreign exchange losses and exceptional items amounting to ₹2.5 billion related to the New Labour Code.

Operational Updates

The airline navigated a demanding year marked by external disruptions. In December, operational issues caused an estimated incremental impact of ₹15-16 billion. Furthermore, the escalation of geopolitical conflict in the Middle East led to route disruptions and impacted approximately 160 daily flights, representing about 18% of total capacity. Consequently, capacity growth for Q4FY26 was limited to 3%, lower than initially planned.

On the fleet front, InterGlobe Aviation inducted 51 aircraft from its original orderbook and 21 on damp lease, while redelivering 37 and 28 respectively, ending the year with a fleet of 441 aircraft. The company also inducted India’s first A321 XLR to bolster its international strategy.

Outlook and Guidance

Looking ahead to Q1FY27, the company expects capacity to grow by 3-4%. It estimates a mid-teens improvement in unit passenger revenue (PRASK) compared to Q1FY26, driven by calibrated fuel charges and a lower base. However, costs are expected to remain elevated due to higher fuel prices and rupee depreciation. The company has decided not to recommend a dividend for FY2026.

IndiGo is temporarily suspending operations to six international destinations from July to September 2026 to align capacity with softer demand and a challenging cost environment. The airline will halt flights to Langkawi, Krabi, Ho Chi Minh, Hong Kong, and Shanghai starting July 1, 2026, and to Siem Reap starting July 3, 2026. These suspensions are scheduled to last until September 30, 2026, though interglobe aviation may reinstate services earlier if market conditions improve.

Despite these adjustments, the airline will maintain the majority of its international network, operating over 1,800 weekly international flights. The realignment aims to ensure reliability and network integrity while navigating elevated operating costs and continued airspace restrictions. IndiGo stated that these measured changes are designed to match capacity with current market trends.

Passengers affected by the schedule changes will be informed proactively. The airline plans to resume bookings for all impacted services starting October 1, 2026. Customers are encouraged to verify the latest flight information before planning their travel.

Suspended Routes and Schedule

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.