ICRA Upgrades Outlook On Indigo To 'stable'

Ratings agency ICRA has upgraded the outlook on Indian low-cost airline lndiGo from negative to stable while reaffirming its long-term credit rating at "A" and short-term credit rating at "A1".

"The change in outlook factors in the improvement in operating environment aided by a healthy improvement in passenger volumes (both domestic and international), moderation in aviation turbine fuel prices over the past few months and further improvement in liquidity position," the carrier says in a filing to the Bombay Stock Exchange.

The carrier reported its highest ever quarterly revenue at Rs154 billion ($1.9 billion) along with a net profit of Rs14.2 billion in its fiscal third quarter ended 31 December while liquidity position continues to remain strong.