IndiGo ends 2021 on a high, inks codeshare pact with Air France-KLM
Premium- Air France and KLM will open up their global network of over 250 destinations to IndiGo customers with more than 120 destinations in Europe and 50 in Americas.
Budget carrier IndiGo has inked an extensive codeshare agreement with Air France-KLM, an official statement said on Thursday.
With this new partnership, Air France and KLM will offer their customers access to 25 new Indian destinations. From their hubs in Paris and Amsterdam, Air France and KLM already serve four destinations in India: Mumbai, Bengaluru, Chennai and Bengaluru.
On departure from Indian provinces, Air France and KLM will also open up their global network of over 250 destinations to IndiGo customers with more than 120 destinations in Europe and 50 in Americas.
The agreement is subject to government approval, will start in February 2022.
On Thursday, IndiGo shares were trading higher by 1.67% in noon deals at ₹1,947.45 on NSE.
Aviation sector has been battered for the most part of 2021 with coronavirus restrictions forcing airlines to cut flights and shut operations. June quarter has been particularly devastating for IndiGo with the airline posting a massive loss of ₹3,179 crore. The second wave and resultant lockdowns meant that the entire period was a near washout in operations.
Adding to the pain, surging crude oil prices, just when the air traffic saw a recovery, played a spoilsport for a quick recovery. Oil marketing companies (OMCs) have hiked prices of aviation turbine fuel (ATF) by about 70%-80% in the last one year, as global crude oil prices soared on energy crunch.
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IndiGo's September quarter loss, however narrowed sequentially to ₹1,435 cr even though fuel expenses during the quarter soared 200%.
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