About: http://data.cimple.eu/news-article/6fd4f44a6cfca23839ef2189956881412e31ece43166d56d6609966e

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About: http://data.cimple.eu/news-article/6fd4f44a6cfca23839ef2189956881412e31ece43166d56d6609966e Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	India's largest airline IndiGo hopes to raise $534 million by issuing shares to try and boost liquidity after the coronavirus pandemic sparked record losses and job cuts. Airlines worldwide have reported steep falls in revenue because of a slump in demand as governments impose sweeping travel restrictions to battle COVID-19. IndiGo last month reported its highest-ever loss of 28.49 billion rupees ($382 million) for the quarter ending June 30, and said it would cut 10 percent of its staff. The carrier's parent firm Interglobe Aviation announced late Monday that its board had approved the issue of shares to raise 40 billion rupees ($534 million). The pandemic has dealt a sharp blow to India's aviation industry, which had seen tremendous growth in recent years. Adding to the gloom, industry body IATA warned last month that global air traffic would not return to pre-pandemic levels until 2024, a year later than previously forecast. Other Indian budget carriers GoAir and SpiceJet are also struggling to manage their finances and are renegotiating contracts with aircraft owners. The IndiGo share issue decision follows its announcement in June to slash expenditure by 40 billion rupees and cut costs by quickly returning older planes to leasing firms. Shares in Interglobe Aviation were down over one percent in Mumbai on Tuesday following the equity announcement. vm/amu/stu/qan
schema:headline	Indian airline IndiGo to fight virus woes with $534 mn share issue
schema:mentions	SpiceJet GoAir Chhatrapati Shivaji Maharaj International Airport International Air Transport Association Virtual machine IndiGo Stock USA Gymnastics Impose (magazine) Pandemic Virus India Coronavirus disease 2019 Steep Falls, Maine Global Air (Mexico) Atomic mass unit Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-08-11 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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