IndiGo Emerging Stronger From Covid-19 Air Pocket: Prabhudas Lilladher
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Prabhudas Lilladher Report
Interglobe Aviation Ltd.’s management remains optimistic about sustainability of demand momentum and expects to operate at 75-80% of last year capacity in Q4 FY21 while achieving 100% of domestic/international capacity by April- December 2021 given -
- the emergence of traffic from non-metro cities in post-Covid-19 era
- gradual opening up of International operations
- recovery in corporate air travel.
Although fixed cash burn has reduced from Rs 400 million per day in March to Rs 150 million per day in Dec-20, management remains cautious in the near term given -
- rising crude oil prices and
- volatility in demand with Q4 being a seasonally weak quarter.
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