IndiGo’s shares have been rising after Go Air’s insolvency, in expectations of the former’s rising market share
InterGlobe Aviation Ltd, which owns no-frills airline IndiGo, has become India’s first aviation company to cross the Rs 1 trillion market capitalisation (mcap) mark after its shares jumped about 30 per cent so far this year to hit the closing record high of Rs 2,618.10 apiece on the BSE on Wednesday.
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On the BSE, IndiGo’s shares jumped 3.48 per cent to close at a record high of Rs 2,618.10 on Wednesday. With this, its total mcap touched Rs 1,00,940.09 crore. During the day, the company’s shares also hit its all-time high of Rs 2,634.25.
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IndiGo’s shares have been witnessing a jump after Go Air’s insolvency, in expectations of the former’s rising market share. Indigo ranks 10th in terms of market value among the world’s top-10 listed aviation firms. Delta Airlines Inc is the world’s biggest airline by value, with a market cap of $29.62 billion followed by South West Airlines Co and Ryanair Holdings PLC. United Airlines Holdings PLC ranks at number four, followed by Air China, Singapore Airlines, China Southern Airlines, China Eastern Airlines Co and Deutsche Lufthansa.
Recently, on June 19, IndiGo announced a massive order of 500 Airbus Neo family aircraft, to be delivered between the years 2030 and 2035. The deal, worth $50 billion at list prices, is the biggest single purchase agreement in aviation history.
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Announced at the Paris Air Show 2023 on Monday, this is the largest order for planes so far, crossing Air India’s order of 470 aircraft placed in March. “This 500 aircraft order is not only IndiGo’s largest order, but also the largest-ever single aircraft purchase by any airline with Airbus. The engine selection for this order will be done in due course and so will be the exact mix of A320 and A321 aircraft,” IndiGo said in a statement.
