IndiGo expects to fly 100-million passengers, have 350 aircraft in its fleet next fiscal

No-frills airline IndiGo is expecting to fly 100-million passengers and is planning to have 350 aircraft in its fleet in the next fiscal, according to a presentation by the airline at the analysts/investors meet on Thursday.

At the same time, the airline is looking to end the current fiscal with around 306 planes in the fleet with the passenger volume estimated at over 85 million.

The number of destinations is expected to go up to 115, with around 10-15 destinations likely to be added in the network during the year, as against 104 in FY23, as per the presentation.

While demand continues to be strong in the March quarter of the ongoing fiscal, external variables such as volatility in forex and fuel, global supply chain disruption as well as inflationary cost pressures (are) impacting performance.

On the capacity side, the airline projects it to be in mid-teens compared to the estimated over 18 per cent in the current fiscal, as per the presentation.

The airline, in the presentation said, it aims to boost economic growth, social cohesion and mobility in the country by developing its own model with affordable air connectivity and on time service, among others, across the domestic and global markets.

The government is looking to increase number of airports in the country to 220 by 2025 from 140 (as on February 28) and invest USD 11.8 billion to construct new Greenfield airports and develop existing Brownfield airports over a four year period, coupled with regional connectivity scheme UDAAN, which connects small cities with big cities, the airline said in the presentation.

IndiGo, in the presentation also stated it will double in size and scale by 2030.