It posted a flat net profit of Rs 579 crore on rupee depreciation and pressure on yields owing to rising competition
Due to higher non-fuel costs, yield pressure
Cancellation fees treated as an ancillary revenue for airlines and hiking it enables carriers to grow its share
IndiGo surged 9%, while SpiceJet soared 7% and Jet Airways by 4% on the BSE in intra-day trade.
Lufthansa and IndiGo are first operators for upgraded Airbus jet after launch customer Qatar Airways rejected delivery due to engine teething problems
The A320neo promises 15 per cent lower fuel burn from day one and 20 per cent fuel savings by 2020
The stock dipped 7% to Rs 802, extending its previous day's nearly 2% fall, erasing its entire previous week gain on NSE.
IndiGo was scheduled to induct these planes in the fleet from December last year
Airbus said India's budget airline IndiGo had committed to an earlier provisional order to buy 250 A320Neo aircraft, handing the European company its biggest-ever deal by number of planes.
It was Rs 317 cr a year earlier
A320neo is an upgraded fuel-saving version of its best-selling medium-haul jet
Airline gives profit warning for Q4, says profit will be impacted due to rupee depreciation