IndiGo, a leading low-cost carrier, has announced its entry into the business class segment with plans to introduce business class services on select routes by the end of the year.

The airline aims to unveil a tailored business product, with details set to be disclosed by August. Pieter Elbers, CEO of IndiGo, expressed excitement about this new phase, emphasizing the airline's commitment to providing more travel options to passengers as India emerges as a major global economy.

The parent company, InterGlobe Aviation Ltd, reported a substantial increase in net profit for Q4 FY24, reaching Rs 1,894.80 crore, driven by a surge in revenue from operations, which rose by 25.9% year-on-year to Rs 17,825.30 crore.

Passenger ticket revenues saw a notable increase, reaching Rs 15,600 crore, while ancillary revenues grew to Rs 1,719.40 crore.

Despite challenges posed by the pandemic, IndiGo maintained a robust financial position, with a healthy total cash balance of Rs 34,737 crore. Total debt, including the capitalised operating lease liability, stood at Rs 51,280 crore.