IndiGo issues profit warning as India suspends all tourist visas

Published: 12 March 2020 - 5 a.m.

India’s largest domestic airline IndiGo expects its quarterly earnings to be materially impacted by a near 20% drop in bookings caused by the coronavirus outbreak.

The airline, which holds nearly 50% of domestic market share in India, said on Wednesday that bookings have been hit heavily since the outbreak and warned that the drop in the rupee would also have an impact on the company.

IndiGo’s warning comes as India announced that all tourist visas have been suspended until 15 April in a move which will impact the aviation industry.

So far India has confirmed 60 cases of the virus, but the figure is expected to rise as more diagnoses are made.

Meanwhile, air fares have crashed with a flight between Delhi and Mumbai costing as little as Rs 2,500 ($33).

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