Newshour Press

IndiGo, India’s budget airline announced on Monday that it has put 10 lakh promotional seats on sale for all-inclusive fares starting at Rs 999. The offer stands for one-way flights and is for a limited period of time.

Making their offer more lucrative, the company also offered a cash amount of up to Rs 600 on using the MobiKwik mobile wallet. The four-day “festive sale” has begun from Monday and is for the travel period from September 18, 2018 to March 30, 2019.

Commenting on the same, IndiGo’s chief commercial officer William Boulter said, “We are delighted to announce this four-day festive sale across our network, effective from 3 September till 6 September 2018. We are sure customers will quickly grab the seats we have available, starting at fares as low as Rs 999.”

The strategy of selling inventory in advance helps an airline generate working capital. The method has been implemented by the airline for the second time, which nearly lost profit earned in the June quarter. In July this year, the airline had put up 1.2 million seats at a discounted rate of Rs 1,212.

InterGlobe Aviation, the company, led by Rahul Bhatia and Rakesh Gangwal, which runs IndiGo Airlines, has gone down in net profit to Rs 27.8 crore in the June quarter. This steep fall came from Rs 811 crore in Q1FY18 owing to the impact of foreign exchange along with increasing fuel prices. Another major problem that the company is facing is the grounding of Airbus A320neo planes due to faulty engines. In July only this year, IndiGo had grounded five A32neo planes.

The 160-fleet company operates 1,100 flights every day, which include eight international flights as well.