A rise in fuel costs and currency depreciation impacted the profits of all domestic airlines, including GoAir. Industry leader IndiGo’s profit dropped by 60 per cent.
GoAir is unlisted and does not disclose quarterly results. It flies 19 Airbus A320 planes and has a market share of around 9 per cent.
GoAir’s operating revenue rose 26.7 per cent to Rs 2,435 crore in FY 14 from Rs 1.921 crore in the previous financial year. Total revenue, including non-operating and other income, was Rs 2,463 crore, registering a similar growth over the previous year’s figure.
But the airline’s earnings before interest, tax, depreciation and amortisation (Ebitda) halved to Rs 129 crore, pointing to an increase in operating expenses. It made a pre-tax profit of Rs 8.37 crore against Rs 147 crore in the last financial year.
23/10/14 Aneesh Phadnis/Business Standard