InterGlobe Aviation Limited Earnings Summary — Q1 FY2027

• Revenue from operations grew by 20% year-on-year to ₹245,841 million, driven by capacity expansion and network growth.
• The company swung to a net loss of ₹2,380 million from a profit of ₹21,763 million in the same quarter last year.
• Aircraft fuel expenses surged nearly 86% YoY to ₹108,329 million, significantly impacting margins.
• Profitability was supported mid-quarter by a Government price-capping mechanism on ATF which ended June 8, 2026.
• Legal disputes regarding IGST on re-imported parts continue, with ₹22,932 million currently paid under protest.
• Significant management changes occurred post-quarter, including the appointment of Kanwal Jeet Singh Bakshi as CHRO.

Management is evaluating participation in the newly announced Price Stabilisation Fund effective June 9, 2026, though specific guidelines are still awaited. Capacity remains focused on the '6E' expansion strategy despite P&W engine disruptions.

Improving

While the company remains in a loss position, the magnitude of the loss decreased significantly compared to the preceding quarter (Q4 FY26).

The outlook is tempered by volatile aviation fuel prices and ongoing engine availability issues, though strong revenue growth and market share dominance provide a cushion.