I believe there are many unspoken aspects in the results. When examining the global aviation industry, it becomes clear that most major players are currently facing capacity constraints. My general observation is that Boeing is in a state of meltdown, while Airbus is struggling to keep up with orders. IndiGo has unfortunately become a victim of the latter. Additionally, there is an ongoing engine crisis.
Due to inconsistent supply from Airbus, IndiGo has been impacted significantly. They have been compelled to retain older aircraft and extend leases, as well as enter into short-term agreements with SmartLynx, which has provided them with less efficient fuel-consuming planes. This situation has coincided with rising fuel prices.
I anticipate that this pain will persist for some time, as there are no short-term solutions available—everyone in the industry is facing similar challenges. I expect expenses to remain elevated for several more quarters. Furthermore, with the introduction of new aircraft models that IndiGo is not accustomed to—such as those featuring business class, loyalty programs, and ovens—it will be very interesting to observe how this unfolds.
I notice many individuals here analyzing the company using Excel metrics. I would encourage you to revisit the fundamentals of the airline business.
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