Mumbai/New Delhi, Dec. 9 -- Record flight cancellations and a weak Indian rupee threaten to slam the financials of IndiGo in the December quarter, analysts said.

Concerns are also rising that India's largest airline may struggle to hire enough pilots, potentially forcing it to reduce flights to comply with the rules. One analyst also raised the possibility that a leadership change may be on cards.

"The airline's revenue could take at least a 5% (revenue) hit in the December quarter after factoring in the cancellations in the first week, the rupee depreciation and additional pilots' costs," said Gagan Dixit, senior vice-president, oil & gas and aviation, Elara Securities. "The profit expectations for the quarter are likely to be trimmed....