Airline major IndiGo on Monday said it will complete the payment against all pending credit shells latest by January 31, 2021.

According to the airline, since the resumption of operations in May, IndiGo has been rapidly refunding amounts owed to customers whose flights had been cancelled during the lockdown.

The airline has already processed close to Rs 1,000 crore of refunds, which is approximately 90 per cent of the total amount owed to the customers.

"The sudden onset of Covid-19 and the resulting lockdown, brought our operations to a complete halt by the end of March of this year. As our incoming cash flow dried up, we were unable to immediately process refunds for cancelled flights and had to create credit shells for the refunds that were due to our customers," said Ronojoy Dutta, Chief Executive Officer, IndiGo.

"However, with the resumption of operations and a steady increase in demand for air travel, our priority has been to refund the credit shell amounts in an expedited manner."