IndiGo CEO Pieter Elbers addressed concerns about the airline’s partnership with Turkish Airlines during a press conference following the announcement of InterGlobe Aviation’s Q4 financial results for FY25. Elbers emphasized that IndiGo’s flights to Istanbul fully comply with Indian aviation regulations and the bilateral air service agreement between India and Turkey. He dismissed media speculation regarding Air India urging the Indian government to reconsider the Turkish partnership, stressing that IndiGo operates strictly within the approved regulatory framework.
The spotlight on IndiGo’s Turkish Airlines leasing deal has grown amid reports that the Indian government may not renew the agreement, which is set to expire on May 31. Since 2023, IndiGo has been operating two Turkish Airlines aircraft on routes connecting Delhi and Mumbai with Istanbul. This arrangement also includes Turkish Airlines providing pilots and some crew members.
This comes amid heightened diplomatic tensions, with the government already taking steps to curb business ties with Turkey, such as revoking security clearance for Turkish ground handler Celebi, leading to Indian companies taking over ground operations at major airports. Additionally, there has been increasing public support for a boycott of Turkish Airlines in India.
Despite these developments, Elbers reiterated that IndiGo’s Istanbul operations remain fully compliant with all regulatory requirements and that the airline is not engaged in any unauthorized activities.
On the financial front, InterGlobe Aviation Ltd reported a robust Q4 performance. The airline posted a net profit of Rs 3,067.5 crore, more than doubling compared to Rs 1,894.8 crore in the same quarter last year. This marked IndiGo’s second consecutive profitable quarter, driven primarily by strong domestic travel demand.
Revenue from operations rose by 24% year-on-year to Rs 22,151.9 crore, slightly below analyst estimates but still reflecting significant growth. Profit after tax also improved by 25% compared to the previous quarter, reaching Rs 2,449 crore. Revenue for the quarter was marginally higher than the previous quarter’s Rs 22,111 crore.
Overall, IndiGo continues to show solid financial health despite geopolitical uncertainties surrounding its Turkish Airlines partnership.
