IndiGo CEO Pieter Elbers on Tuesday said IndiGo’s operations to Istanbul are fully compliant with Indian regulatory norms, underlining that the services are in accordance with the air service agreements between India and Turkey.

At the press conference after announcing Q4 FY25 results of InterGlobe Aviation, Elbers said its flights to Istanbul fall within the framework of existing government-approved entitlements.

“IndiGo is fully compliant with regulatory norms. Operations to Istanbul are in the context of air service agreements between India and Turkey,” Elbers stated.

According to reports, the Centre is not expected to extend IndiGo’s leasing agreement with Turkish Airlines. The current agreement, allowing IndiGo to operate aircraft on the Mumbai-Delhi-Istanbul route, is set to expire on May 31. 

Since 2023, IndiGo has been utilising two aircraft leased from Turkish Airlines to operate routes connecting New Delhi and Mumbai to Istanbul. The flight crew, including pilots and some crew members, are provided by Turkish Airlines as part of the agreement.

While a review process is underway, it is unlikely that the IndiGo-Turkish Airlines agreement will be renewed, given the current diplomatic situation.

This decision follows India’s recent efforts to decrease commercial ties with Turkey due to Ankara’s backing of Pakistan during Operation Sindoor. As part of these actions, the Ministry of Civil Aviation recently revoked Turkish firm Celebi’s security clearance, leading to the quick transition to Indian ground operations companies at Mumbai and Delhi airports. There is also a growing movement to boycott Turkish Airlines, which holds a significant presence in the Indian market.

Interglobe Aviation Ltd on Tuesday announced a profit of Rs 3,067.5 crore for the quarter ending on March 31, 2025, marking its second consecutive profitable quarter. This success can be attributed to the sustained high demand for domestic travel in India.

Compared to the same period last year, the airline’s net profit has significantly increased from Rs 1894.8 crore to Rs 3,067.5 crore. The company exceeded the market’s expectations, with three brokerages averaging a projected profit range of Rs 2,330 crore to Rs 2,432 crore.

Despite falling slightly short of the estimated Rs 22,500 crore, the company’s revenue from operations saw a notable growth of 24%, reaching Rs 22,151.9 crore from Rs 17,825.3 crore in the previous fiscal year.

The company recorded a 24% increase in revenue from operations, reaching Rs 22,152 crore in the current quarter compared to Rs 17,825 crore in the corresponding quarter of the previous fiscal year.

Profit after tax (PAT) saw a 25% increase on a sequential basis, reaching Rs 2,449 crore in the reported quarter compared to the previous quarter. The company’s revenue also saw a slight increase from Rs 22,111 crore in the October-December quarter of the previous fiscal year.

Despite a 17% increase in revenue to Rs 80,803 crore in FY25, the company’s net profit declined by 11% to Rs 7,258 crore compared to FY24, where the net profit was Rs 8,172.5 crore. This decrease in net profit can be attributed to a significant 17% rise in expenses to Rs 76,505 crore in FY25 compared to Rs 63,182 crore in the previous fiscal year.