IndiGo Blames Weak Rupee for Wider Loss, Bets on Global Growth as Currency Shield
Photo Credit: IndiGo CEO Pieter Elbers speaking at the Skift India Forum 2025. Skift
Skift Take
A weaker rupee gives IndiGo one more reason to look outward. Expanding internationally helps the airline bring in the dollars and euros that can soften future currency shocks.
IndiGo reported another quarter of rising revenue, helped by a solid rebound in domestic travel late in the summer. But a weaker rupee — down about 4% against the dollar — drove up the cost of everything from aircraft leases to maintenance and fuel.
That meant wider losses: INR 25.8 billion ($291 million) in the quarter versus INR 9 billion ($101 million) during the same period last year. More than 60% of IndiGo’s expenses are dollar-linked.
CEO Pieter Elbers said the airline’s growing international network should eventually help offset that pressure. By earning more in dollars, euros, and pounds, IndiGo gains a “natural hedge” against currency swings — a cushion that grows as the carrier flie
