INTERGLOBE AVIATION LTD

Operates India's largest domestic airline, carrying passengers on scheduled flights across domestic and international routes. Revenue is earned primarily from passenger ticket sales — yields rose 21.3% year on year to INR 6.04 in Q1 FY27 — supplemented by ancillary services and a small cargo operation. The carrier is reshaping long-haul: ending Boeing 787-9 damp-lease operations from October 2026, switching Mumbai-Amsterdam to A321XLR, and pausing London Heathrow until A350-900s arrive. Aircraft fuel is by far the biggest cost; fuel expenses nearly doubled year on year to Rs 10,833 crore in Q1 FY27 on Middle East tensions, dragging the airline to a Rs 238 crore net loss versus a Rs 2,176 crore profit a year earlier. Other large costs are other operating expenses (75.6% of FY26 revenue) and employee costs (9.7%). The business signed an MoU for 1,000+ CFM LEAP-1A engines to power future A320neo-family growth, targeting a 600-aircraft fleet and ~40% international capacity share by 2030. AR · MarketPing reader · 2026-08-02

Revenue streams, as the annual report describes them. Domestic passenger operations, International passenger operations, Cargo services, Ancillary services. Cyclical, asset-heavy, fuel-and-FX-sensitive airline with a young, mostly single-fleet narrow-body backbone.

Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)