Tuesday, August 9, 2022
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

IndiGo issues refunds worth Rs 1,030 crore for flights cancelled during COVID-induced lockdown

Jaleel M. by Jaleel M.
March 24, 2021
in Business
0
IndiGo issues refunds worth Rs 1,030 crore for flights cancelled during COVID-induced lockdown
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter


While 99.95 percent refunds have been processed, the pending credit shells are mostly cash transactions wherein bank details of customers are awaited

Related posts

10 grams of 24-carat stands at Rs 50,790; silver at Rs 61,200 per kilogram  

10 grams of 24-carat stands at Rs 50,790; silver at Rs 61,200 per kilogram  

May 18, 2022
How will you get tax benefits under new I-T rules for charitable organisations? Read on to find out

How will you get tax benefits under new I-T rules for charitable organisations? Read on to find out

May 17, 2022

IndiGo issues refunds worth Rs 1,030 crore for flights cancelled during COVID-induced lockdown

Representational image. PTI

New Delhi: Budget carrier IndiGo said on Wednesday it has processed 99.95 percent of the total amount owed to passengers whose flights got cancelled during the two-month lockdown beginning 25 March last year. The Supreme Court had last September instructed all the airlines to fully refund the passengers, whose flights were cancelled during the lockdown period (25 March, 2020 to 24 May, 2020) by 31 March, 2021.

In a statement, IndiGo said, “Since the resumption of operations in May 2020, IndiGo has been rapidly refunding amounts owed to customers whose flights had been cancelled during the lockdown. The airline has already processed close to Rs 1,030 crore of refunds, which amounts to about 99.95 percent of the total amount owed to its customers.”

The pending credit shells are mostly cash transactions wherein IndiGo is awaiting bank transfer details from the customers, it mentioned.

The two-month lockdown and pandemic-related travel restrictions have badly hit the Indian airlines. Revenues of major Indian scheduled carriers fell from Rs 46,711 crore during April-September 2019 to about Rs 11,810 crore during April-September 2020, Civil Aviation Minister Hardeep Singh Puri told the Rajya Sabha last month.

On Wednesday, Ronojoy Dutta, Chief Executive Officer, IndiGo explained the airline’s position. “As our incoming cash flow through ticket sales got impacted (due to complete halt of operations due to lockdown), we were unable to immediately process refunds for cancelled flights and had to create credit shells for the refunds that were due to our customers,” he said.

However, with the resumption of operations and a steady increase in demand for air travel, our priority has been to refund the credit shell amounts in an expedited manner, he noted. “We are pleased to share that we have disbursed 99.95 percent credit shell payments and will complete the remaining payments as soon as we receive requisite details from the customers,” Dutta mentioned.

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply



Source link

Previous Post

Barbeque Nation IPO opens today: Here are key details for investors to know

Next Post

China considers creating state-backed company to oversee tech data

Next Post
China considers creating state-backed company to oversee tech data

China considers creating state-backed company to oversee tech data

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Why it is important to mind the environmental cost- Technology News, Firstpost

Why it is important to mind the environmental cost- Technology News, Firstpost

1 year ago
Don’t Miss These Deals From Lululemon’s Warehouse Sale

Don’t Miss These Deals From Lululemon’s Warehouse Sale

2 years ago
Moderna enters late-stage vaccine trial, with backing from US govt, United States News & Top Stories

Moderna enters late-stage vaccine trial, with backing from US govt, United States News & Top Stories

2 years ago
Budget 2021 will be starting point for economic recovery after COVID-19 pandemic, say experts

Budget 2021 will be starting point for economic recovery after COVID-19 pandemic, say experts

2 years ago

FOLLOW US

  • 116 Followers
  • 29.5k Followers
  • 174k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Salted vs. Unsalted Pistachios

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy