InterGlobe Aviation Limited reported a consolidated net loss of ₹2,380 million for the quarter ended June 30, 2026 (Q1FY27), a sharp decline from the net profit of ₹21,763 million recorded in the same period last year. The airline's revenue from operations rose to ₹245,841 million in Q1FY27, up from ₹204,963 million in Q1FY26, driven by a 19% increase in passenger unit revenue. However, total expenses surged to ₹258,525 million, primarily due to a significant escalation in aircraft fuel costs, which stood at ₹108,329 million compared to ₹58,326 million in the prior year. The standalone financial results also reflected a net loss of ₹3.82 billion for the quarter, contrasting with a net profit of ₹21.6 billion in the corresponding quarter of the previous year.

The Board of Directors approved the unaudited standalone and consolidated financial results at its meeting held on July 23, 2026. The results were reviewed by the Statutory Auditors, M/s. S.R. Batliboi & Co. LLP, who issued an unmodified conclusion.

Financial Performance

The following table summarises the key consolidated financial metrics for the quarter:

Operational Metrics

The airline's Available Seat Kilometers (ASKs) increased by 2.9% to 43.5 billion, while Revenue Passenger Kilometers (RPKs) grew by 1.4% to 36.2 billion. The load factor stood at 83.3%, a decrease of 1.3 percentage points from the previous year. The yield per passenger kilometer improved significantly to ₹6.04 from ₹4.98 in Q1FY26. The closing fleet size stood at 432 aircraft, a net decrease of 9 passenger aircraft during the quarter, including 3 A321 freighters and 6 damp leases.

Cost Pressures and Regulatory Matters

Aircraft fuel expenses were the primary driver of the increased costs, exacerbated by geopolitical developments in West Asia. The Ministry of Petroleum and Natural Gas had introduced a price capping mechanism effective from April 1, 2026, to June 8, 2026, which provided temporary relief. However, from June 9, 2026, the company began recognising fuel expenses based on prevailing market prices following the announcement of a Price Stabilisation Fund, the terms of which are still under evaluation.

The company faces ongoing tax and regulatory challenges. The income tax authority has revised taxable income up to Assessment Year 2022-23, creating a potential tax exposure of ₹24,185 million, excluding interest and penalty. Additionally, the company has paid ₹22,932 million in Integrated Goods and Services Tax (IGST) under protest regarding the re-import of repaired aircraft parts, with appeals pending at various judicial levels.

Management and Corporate Updates

During the quarter, the company issued and allotted 34,000 equity shares under the InterGlobe Aviation Limited Employees Stock Option Scheme - 2015 and 10,500 equity shares under the ESOS - 2023. Consequently, the paid-up equity share capital increased to ₹3,867 million. Post the quarter's closure, the Nomination and Remuneration Committee approved the grant of 113,500 performance stock options and allotted 9,099 equity shares.

There were notable changes in the company's management. Mr. Vinay Malhotra resigned as Head – Global Sales effective July 3, 2026. Mr. Sukhjot S. Pasricha resigned as Chief Human Resources Officer effective July 19, 2026, and was succeeded by Mr. Kanwal Jeet Singh Bakshi, who took charge on July 20, 2026.

InterGlobe Aviation's Nomination and Remuneration Committee has approved the grant of 113,500 stock options to eligible employees under its Employees Stock Option Scheme 2023. The options allow grantees to acquire up to 113,500 equity shares at a face value of INR 10 each, subject to vesting conditions.

The scheme is compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The options granted are Performance Stock Options, and the pricing formula is fixed at INR 10 per share. Grantees will have a period of four years from the date of vesting to exercise these options.

No options have been vested, exercised, or lapsed as of the current disclosure. Consequently, there is no money realised by the exercise of options, and no diluted earnings per share impact has been recorded yet. The company confirmed there are no subsequent changes, cancellations, or exercises of the options.

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing referenced SEBI Circular No. HO/49/14/14(7)2025-CFDPOD2/II/3762/2026 dated January 30, 2026.

Key Details of the Grant