Indian low-cost carrier (LCC) IndiGo reported a 4Q 2016 net profit of INR5.79 billion ($87.4 million), up a scant 0.3% compared to a net profit of INR5.77 billion in the year-ago period. IndiGo president Aditya Ghosh said the airline would continue to reduce fuel costs, which he described as “the single largest element of our cost structure.” The airline’s operating profit for the quarter fell 12% to INR6.8 billion, compared to a 24% year-over-year rise in the ...

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