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

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

1 hour ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

2 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

2 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

3 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

3 hours ago

PM Modi Engages In 31 Bilateral Meetings During Three-Nation Tour

PM Narendra Modi held 31 bilateral meetings and discussions during his visit to Nigeria, Brazil,…

4 hours ago