The market capitalization of InterGlobe Aviation, IndiGo’s parent, topped the Rs. 1-trillion mark on Wednesday with its shares surging 29 per cent so far this year to record highs. InterGlobe reported a turnover of Rs 9.20 crore on the BSE, commanding a market capitalization of Rs 1,01,007.56 crore. It is the first domestic airline to achieve such a milestone.
InterGlobe has clearly benefitted from Go First’s decision to file for bankruptcy earlier this year. Amidst Go First’s troubles, InterGlobe managed to cement its position at the top. Meanwhile, as a result of improvements in yields and passenger load factor, analysts have raised their forecasts for the company’s operating margin. According to information gathered from its investor presentations, IndiGo increased the number of aircraft in its fleet from just over 100 in 2016 to over 300 at present. By 2030, the airline wants to have double the amount of its fleet.
Earlier this month, the carrier was making headlines for placing an order for 500 A320 family aircraft, which they will receive between 2030 and 2035. Speaking of, it is the world’s largest single-tranche aircraft order.
According to DGCA data, India’s largest airline carried 61.4% of domestic traffic in May. Followed by Air India, which is number 2, as it carried 9.4% of all domestic traffic in May. The market share of IndiGo increased to 60 per cent, up to 390 basis points in May. During the month of April, its market share stood at 61.3 per cent after increasing 70 basis points.
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