Indian carrier IndiGo's quarterly profit hit by mass flight cancellations
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India's largest airline, IndiGo, reported a 75% drop in quarterly profit, posting 6.13 billion rupees ($66.9 million) for the quarter ending December 31, down from 24.42 billion rupees a year prior. The decline is attributed to mass flight cancellations due to poor roster planning, leading to regulatory scrutiny and fines. The airline incurred a one-time hit of 14.67 billion rupees ($160.14 million) from refunds and the new labor code.
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