India-based low cost carrier (LCC) IndiGo reported a net profit of INR5.92 billion ($87.3 million) for its 1Q 2017 period to end June 2016, down 7.4% compared to the same period last year. IndiGo president Aditya Ghosh said profitability was down  “primarily because of competitive fare pressures”. “[But] we have reduced our debt by INR4.6 billion … [and] our on-time performance has improved to 85% ... compared to 80.6% for the same period last year,” ...

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