Q3 2024 Interglobe Aviation Ltd Earnings Call Transcript
Key Points
- InterGlobe Aviation Ltd (BOM:539448) reported a profit after tax of INR30 billion for Q3 FY2024, with a profit margin of 15.4%.
- The company achieved a significant milestone of operating 2,000 daily flights and served 27 million passengers in the December quarter.
- InterGlobe Aviation Ltd (BOM:539448) added 27% capacity in available seat kilometers year-over-year, with load factors improving to 86%.
- The company expanded its network by adding seven new domestic destinations and six new international destinations during the quarter.
- InterGlobe Aviation Ltd (BOM:539448) launched an AI chatbot, 6Eskai, powered by GPT-4 technology, enhancing customer service and booking efficiency.
- The company faced operational challenges due to adverse weather conditions, including a cyclone in Chennai and severe fog, leading to flight cancellations and delays.
- Supply chain disruptions have resulted in a significant number of aircraft on ground (AOG), with current AOGs in the mid-70s, impacting capacity.
- Despite mitigation measures, the company expects continued headwinds from aircraft groundings in the near term.
- The dynamic nature of fuel prices and foreign exchange depreciation continues to impact operating expenses.
- The company is still in discussions with OEMs regarding compensation for grounded aircraft, indicating ongoing uncertainty in finalizing claims.
Good evening, ladies and gentlemen and welcome to IndiGo's conference call to discuss the third quarter of fiscal year 2024 financial results. My name is Nirav and I'll be your coordinator. (Operator Instructions) Please note that this conference is being recorded. (Operator Instructions).
I would now like to turn the call over to your moderator, Ms. Richa Chhabra, from the Investor Relations team of IndiGo. Thank you and over to you, ma'am.
Good evening, everyone and thank you for joining us for the third-quarter fiscal year 2024 earnings call. We have with us our Chief Executive Officer, Pieter Elbers; our Chief Financial Officer, Gaurav Negi; and our Head of Investor Relations, Kailash Rana, to discuss the financial performance and are available for the Q&A session.
Please note that today's discussion may contain certain statements on our business or financials, which may be construed as forward-looking. Our actual results may be materially different from these forward-looking
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