Aviation Sector Q4 Earnings Preview – Expect Flattish Loss: ICICI Securities

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Fourth quarter is normally a weak quarter for airlines, more so in Q4 FY21 due to higher crude prices.

However, higher number of passengers will incrementally help airlines absorb costs on a sequential basis.

We estimate Q4 /FY21 loss of Rs 7.6 billion/54 billion for InterGlobe Aviation Ltd. and Rs 967 million/8.7 billion for SpiceJet Ltd.

Without factoring in the currency-related impact, we expect IndiGo and SpiceJet to report Q4/FY21 loss of Rs 7.4 billion/60.4 billion and Rs 917 million/9.5 billion, respectively.

Click on the attachment to read the full report:

ICICI Securities Aviation Q4FY21 Preview.pdf


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