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What IndiGo’s coming USD1 billion profit milestone says about the industry.
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Synopsis
India’s largest low-cost airline is likely to wrap up FY24 with a record profit of INR7,200 crore-INR8,300 crore – the best in the country’s aviation history.
At a gathering of top airline executives in Istanbul in 2008, Jet Airways’ founder Naresh Goyal appeared to be an unhappy man. The Mumbai-based low-cost airline had swung into a net loss of INR654 crore in FY08, hurt by high fuel prices and intensifying competition in India’s civil aviation industry, and the travel agent-turned aviation czar was expecting more turbulence ahead. “What is low-cost? There is nothing like low-cost in India. There is
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