IndiGo Sees Impact On Earnings Due To Coronavirus-Led Disruption
IndiGo says its daily bookings are down 15-20 percent week-on-week over the past few days.
InterGlobe Aviation Ltd., the operator of India’s largest airline IndiGo, said it expects its quarterly earnings to be “materially impacted” as bookings have fallen over the past few days.
“Daily bookings are down 15-20 percent week-on-week over the past few days. January and February saw modest impact from coronavirus as planes was redeployed in other markets,” the aviation company said in an exchange filing.
The fact that rupee has depreciated sharply against the dollar will adversely impact IndiGo's dollar-denominated liabilities, primarily on account of capitalised operating leases, the filing stated.
"We expect our quarterly earnings to be materially impacted because of the above.”
On Wednesday, IndiGo shares fell 3.56 percent to Rs 1,169.95 apiece on the NSE while the benchmark Nifty 50 rose 0.07 percent to end the day at 10,458.40 points.