
India's aviation market incredibly price competitive: IndiGo CEO
Around 65% of the world population lives within 5-6 hours of flying time from India, says IndiGo CEO Pieter Elbers
Around 65% of the world population lives within 5-6 hours of flying time from India, says IndiGo CEO Pieter Elbers
These 10 aircraft will be part of the original 300 aircraft order placed in 2019
The Gangwal family led by Rakesh Gangwal looks to sell 4% stake in IndiGo at a floor price of ₹2,400 per share, a discount of 5.8% to Monday’s closing price.
The aviation heavyweight has been witnessing profit booking after hitting its all-time high levels of ₹2,745.95 on July 13, 2023.
This is the highest-ever profit recorded by IndiGo owing to weak competition and expensive air ticket prices
Shares of India's biggest airline by market share opened at a record high of ₹2,490 on the NSE.
With this order of 500 aircraft, IndiGo's order book has almost 1,000 aircraft yet to be delivered well into the next decade.
At present, Gangwal and his wife Shobha Gangwal hold 13.23% and 2.99% stake in IndiGo respectively, whereas the Chinkerpoo Family Trust holds a 13.5% stake in the airline.
The airline is in talks with Airbus to lease 500 narrow-body A320 jets, which is expected to eclipse Air India's provisional purchase of 470 aircraft in February this year.
IndiGo’s profit was ₹919.2 crore in Q4 vs ₹1,681.8 crore loss in the same period last year. Revenue surged 76.5% YoY to ₹14,160.6 crore