{"id":1261653,"date":"2023-08-04T09:48:25","date_gmt":"2023-08-04T04:18:25","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261653"},"modified":"2023-08-04T09:49:02","modified_gmt":"2023-08-04T04:19:02","slug":"indias-biggest-airline-has-just-launched-a-venture-capital-fund-for-indian-startups","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/indias-biggest-airline-has-just-launched-a-venture-capital-fund-for-indian-startups\/","title":{"rendered":"India’s Biggest Airline Has Just Launched A Venture Capital Fund For Indian Startups!"},"content":{"rendered":"\n

InterGlobe Aviation Limited, which operates India\u2019s largest airline IndiGo revealed plans to invest beyond its airline operations. <\/p>\n\n\n\n

\"India's<\/figure>\n\n\n\n

Branching out<\/strong><\/p>\n\n\n\n

It also intends to make early investments in aviation-related companies along with acquiring assets such as aircraft and engines to make better use of its cash flows.<\/p>\n\n\n\n

The airline, India\u2019s largest, had free cash amounting to \u20b915,691 crore, up 89% from the previous quarter.<\/p>\n\n\n\n

Also, just recently it reported its highest-ever quarterly profit of 3,090.6 crore in the April-June 2023 quarter thanks to strong demand for air travel, lower fuel costs and favourable movement in foreign currency.<\/p>\n\n\n\n

Record profits<\/strong><\/p>\n\n\n\n

The airline certainly has plenty of cash to burn. <\/p>\n\n\n\n

It posted its highest<\/a>-ever quarterly profit of Rs 3,090.6 crore in the June quarter, riding on the back of strong operational performance and positive market conditions.<\/p>\n\n\n\n

\u201cWe will look at investing <\/a>\u20b97 crore in the venture capital business to begin with. Internal discussions are happening. This is a directional view. We haven\u2019t decided on how much capital we want to allocate to that,” chief financial officer Gaurav Negi said.<\/p>\n\n\n\n

Passenger traffic<\/strong><\/p>\n\n\n\n

The airline also enjoyed an increase in average daily air passenger traffic.<\/p>\n\n\n\n

Average daily air passenger traffic in the Indian civil aviation market was recorded at over 424,000 air passengers, higher than the daily air passenger traffic in the pre-pandemic year of 2019.<\/p>\n\n\n\n

It\u2019s even higher than the previous quarter of the last fiscal.<\/p>\n\n\n\n

Official statement<\/strong><\/p>\n\n\n\n

\u201cGiven our strong liquidity position, we are also planning to invest in some aircraft and related assets. <\/p>\n\n\n\n

Further, subject to regulatory approvals, we are also planning on launching a venture capital arm to invest in early-stage companies operating in aviation, consumer-focused and allied sectors such as travel, lifestyle, hospitality and transportation. <\/p>\n\n\n\n

Given our large consumer base, we believe these investments will help us add value to the airline,” said Negi.<\/p>\n\n\n\n

Asset acquisition<\/strong><\/p>\n\n\n\n

The airline\u2019s management acknowledged that its acquisition of engines and aircraft during the pandemic made little sense. <\/p>\n\n\n\n

However, with progress on multiple fronts, it’s not hard to understand why it would be willing to take on such endeavors. <\/p>\n","protected":false},"excerpt":{"rendered":"

InterGlobe Aviation Limited, which operates India\u2019s largest airline IndiGo revealed plans to invest beyond its airline operations.  Branching out It also intends to make early investments in aviation-related companies along with acquiring assets such as aircraft and engines to make better use of its cash flows. The airline, India\u2019s largest, had free cash amounting to […]<\/p>\n","protected":false},"author":24,"featured_media":1261663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1019,1394],"class_list":["post-1261653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-indigo","tag-vc-funding"],"acf":[],"yoast_head":"\nIndia's Biggest Airline Has Just Launched A Venture Capital Fund For Indian Startups! - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/indias-biggest-airline-has-just-launched-a-venture-capital-fund-for-indian-startups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India's Biggest Airline Has Just Launched A Venture Capital Fund For Indian Startups! - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"InterGlobe Aviation Limited, which operates India\u2019s largest airline IndiGo revealed plans to invest beyond its airline operations.  Branching out It also intends to make early investments in aviation-related companies along with acquiring assets such as aircraft and engines to make better use of its cash flows. 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