After flying for nearly 18 years, India's largest airline IndiGo announced that it will introduce business class in flights this year, as the carrier seeks to provide more options for passengers amid rising economic growth. The airline will launch a "tailor-made business product", the details of which will be unveiled around August that will also mark the 18th anniversary of the carrier.
The latest announcement also comes less than a month after the profitable carrier said it would buy 30 wide-body aircraft.
Currently, the airline only has economy class. It has a fleet of more than 360 aircraft and operates around 2,000 flights daily. Emphasising that it is time to take the next step in its evolution, IndiGo said that considering India's soaring economy and the evolving aspirations of Indian society, it is time for IndiGo to redefine premium travel in India, increasing the availability of this service for the nation.
Q4 profit soars
IndiGo reported a climb of 106 per cent in its net profit on a year-on-year (YoY) basis in its fourth quarter (Q4) earnings. The firm logged a net profit of £189.48 mn for the March quarter in the 2023-24 financial year (FY24) against a net profit of £91.92 mn in the fourth quarter of the previous 2022-23 fiscal year (FY23). The conglomerate clocked a jump of 26 per cent in its revenue from operations for Q4 FY24 on a year-on-year basis. It posted a revenue of £1.78 bn for the quarter under review against its Q4 revenue of £1.46 bn for FY23.
