Business

IndiGo Becomes India’s First Airline to Cross Rs 1-trillion M-cap Mark

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.

Also Read: Adaniconnex Receives Frost & Sullivan’s 2023 South Asian Company of the Year Award for Data Center Infrastructure and Operational Excellence

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.

Also Read: Sensex Crosses The 64,000 Mark; Nifty Reaches 19,000 In Intraday Trade

Malika Sahni

Recent Posts

Renowned Folk Singer Sharda Sinha Passes Away At 72; PM Modi Expresses Condolences

PM Modi expressed sorrow over Sinha’s death. "The passing of Sharda Sinha ji is deeply…

6 hours ago

US Election: India Confident Of Strong US Relations And Quad Continuity, Says Jaishankar

Jaishankar noted that the US-India relationship has flourished under both Democratic and Republican leadership, including…

7 hours ago

Sanskriti Diwas Marks 98th Birth Anniversary Of Kashiraj Dr Vibhuti Narayan Singh

Program coordinator Chakravarti Vijay Navad announced that 11 prominent individuals received the Kashiraj Dr. Vibhuti…

8 hours ago

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

9 hours ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

9 hours ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

10 hours ago