Investment Information and Credit Rating Agency of India (ICRA) has upgraded IndiGo’s outlook from negative to stable. The agency has reaffirmed IndiGo’s long-term credit rating at A and short-term credit rating at A1.
This change is mostly due to improvement in the operating environment aided by a healthy improvement in both domestic and international passenger volumes, moderation in aviation turbine fuel prices over the past few months and further improvement in liquidity position
IndiGo reported its highest ever quarterly revenue at INR 154.10bn along with a net profit of INR 14.23bn during Q3 of FY22-23. The airline reported a cash balance of INR 219.24bn as on December 31, 2022.