IndiGo's festive offer: 10L seats for sale starting Rs. 999
What's the story
Budget carrier IndiGo today said it has put on sale 10L promotional seats for all-inclusive fares starting Rs. 999 for a one-way journey across its flight network, under a limited period offer.
It is also offering a "Super Cash" amount of up to Rs. 600 (20%) on booking the ticket through mobile-wallet provider MobiKwik under the promotional offer, a company release said.
Here's more.
Information
Travel period from September 18, 2018 to March 30, 2019
The bookings of tickets under the four-day "festive sale" offer have begun from today for the travel period from September 18, 2018, to March 30, 2019, the release said.
Sale
This is the second heavy sale of IndiGo this year
Selling inventory in advance helps an airline generate working capital.
This is the second time in as many months that IndiGo, whose June quarter profitability nearly got wiped-out over the period year ago, has put a million seats for sale at cheaper fares.
In July, it had put on sale 1.2mn seats at heavily discounted starting fares of Rs. 1,212 under a similar offer.
Financial problems
IndiGo facing financial problems due to high fuel prices
The Rakesh Gangwal-Rahul Bhatia-promoted InterGlobe Aviation, which runs IndiGo, had reported a steep 96.6% fall in net-profit to Rs. 27.8cr in the June quarter, owing to the impact of foreign exchange and high fuel prices, as compared to Rs. 811cr in Q1FY18.
It's also struggling with Pratt & Whitney engine-powered Airbus A320neo planes, due to frequent grounding of these aircraft owing to engine glitches.