In order to fulfil the rising demand for air travel and the resulting delays in the delivery of new aircraft, InterGlobe Aviation Ltd, the owner of IndiGo, the leading airline in India, announced on Friday that it is considering “wet leasing” aircraft. 

A “wet lease” arrangement is one in which the lessor provides the aircraft and personnel while still maintaining operational control of the flights. 

Following the release of IndiGo’s second-quarter loss report, the airline’s new Chief Executive Officer Pieter Elbers revealed that the company has been prolonging some of its current leases and delaying the return of aircraft.

“Another element which is under discussion today, and we are still in the final stages of clarifying, is a possible wet lease operation,” Elbers said.

The demand for air travel has increased to levels that are very similar to those seen before the Covid scandal, both domestically and abroad. 

After its loss for the July-September period worsened because of high fuel expenses and foreign exchange losses, IndiGo said it was optimistic about returning to operational profitability in the current quarter. 

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The airline anticipates an increase in capacity, as defined by the number of available seats per kilometre, of around 25 per cent from the same period last year. Additionally, it kept its forecast for a 13–17 per cent rise in capacity for the current fiscal year.

“In the coming years, we will build on our strong (domestic)foundations with more international aspirations,” Elbers said.

According to IndiGo, fuel prices increased by more than three times during the second quarter compared to the same period last year, and rupee-related foreign exchange losses were 12 billion rupees ($145.88 million) for the three months.

(with inputs from agencies)