INDIGO
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- 1M
- 6M
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- MAX
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Recent events
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Thales Signs Two Strategic Contracts With India’s Indigo - Statement
Sept 17 (Reuters) - Interglobe Aviation Ltd INGL.NS:
THALES SIGNS TWO STRATEGIC CONTRACTS WITH INDIA’S INDIGO - STATEMENT
MAINTENANCE CONTRACT FOR INDIGO'S CURRENT AIRBUS A320 FLEET, FUTURE A32X AIRCRAFTS - STATEMENT
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
Sept 17 (Reuters) - Interglobe Aviation Ltd INGL.NS:
THALES SIGNS TWO STRATEGIC CONTRACTS WITH INDIA’S INDIGO - STATEMENT
MAINTENANCE CONTRACT FOR INDIGO'S CURRENT AIRBUS A320 FLEET, FUTURE A32X AIRCRAFTS - STATEMENT
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
Indigo To Launch Flights Between Mumbai And Copenhagen Starting October 8
Sept 16 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - TO LAUNCH FLIGHTS BETWEEN MUMBAI AND COPENHAGEN (DENMARK) STARTING OCTOBER 8
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Sept 16 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - TO LAUNCH FLIGHTS BETWEEN MUMBAI AND COPENHAGEN (DENMARK) STARTING OCTOBER 8
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
The Chinkerpoo Family Trust Sells 5.04 Million Shares Of Indigo Via Bulk Deals
Aug 28 (Reuters) - Interglobe Aviation Ltd INGL.NS:
THE CHINKERPOO FAMILY TRUST SELLS 5.04 MILLION SHARES OF INDIGO VIA BULK DEALS - NSE DATA
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Aug 28 (Reuters) - Interglobe Aviation Ltd INGL.NS:
THE CHINKERPOO FAMILY TRUST SELLS 5.04 MILLION SHARES OF INDIGO VIA BULK DEALS - NSE DATA
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Rakesh Gangwal Family Likely To Sell Up To 3.1% Stake In Interglobe Aviation (IndiGo) Via Block Deals - CNBC-TV18
Aug 26 (Reuters) -
RAKESH GANGWAL FAMILY LIKELY TO SELL UP TO 3.1% STAKE IN INTERGLOBE AVIATION (INDIGO) VIA BLOCK DEALS - CNBC-TV18
Source text: https://tinyurl.com/4ky7pxhz
Further company coverage: INGL.NS
(([email protected];))
Aug 26 (Reuters) -
RAKESH GANGWAL FAMILY LIKELY TO SELL UP TO 3.1% STAKE IN INTERGLOBE AVIATION (INDIGO) VIA BLOCK DEALS - CNBC-TV18
Source text: https://tinyurl.com/4ky7pxhz
Further company coverage: INGL.NS
(([email protected];))
Max Healthcare, IndiGo parent to enter India's Nifty 50 index after rejig, NSE says
Adds details and background paragraph 3 onwards
Aug 22 (Reuters) - India's National Stock Exchange (NSE) said on Friday it will add hospital-chain operator Max Healthcare Institute MAXE.NS and Indigo-parent InterGlobe Aviation INGL.NS to its Nifty 50 index .NSEI effective September 30.
IndusInd Bank INBK.NS and Hero MotoCorp HROM.NS will be removed from the index as part of the NSE's semi-annual rebalancing, the exchange said.
NSE's semi-annual index reshuffle is based on stocks' average free-float market capitalization over six-month periods ending January 31 and July 31, with the changes implemented in March and September, respectively.
Changes to the Nifty 50 usually lead to reshuffling of exchange traded funds linked to the benchmark index, which could result in several million dollars worth of inflows and outflows for the stocks that are rejigged.
Addition to the index could bring in $400 million for Max Healthcare, according to an estimate from brokerage firm Nuvama in July.
For the year through July-end, shares of Max and InterGlobe rose 9.34% and 28.61%, respectively, while those of IndusInd fell 17.59%. Hero's stock was up 1.82%.
InterGlobe shares hit a record high earlier this week after Jefferies said it expected the airline's market share gains to sustain across domestic and international segments.
Meanwhile, IndusInd Bank took a $230 million hit in the year ended March 31 due to misaccounting in internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.
(Reporting by Hritam Mukherjee and Urvi Dugar in Bengaluru; Editing by Leroy Leo)
(([email protected];))
Adds details and background paragraph 3 onwards
Aug 22 (Reuters) - India's National Stock Exchange (NSE) said on Friday it will add hospital-chain operator Max Healthcare Institute MAXE.NS and Indigo-parent InterGlobe Aviation INGL.NS to its Nifty 50 index .NSEI effective September 30.
IndusInd Bank INBK.NS and Hero MotoCorp HROM.NS will be removed from the index as part of the NSE's semi-annual rebalancing, the exchange said.
NSE's semi-annual index reshuffle is based on stocks' average free-float market capitalization over six-month periods ending January 31 and July 31, with the changes implemented in March and September, respectively.
Changes to the Nifty 50 usually lead to reshuffling of exchange traded funds linked to the benchmark index, which could result in several million dollars worth of inflows and outflows for the stocks that are rejigged.
Addition to the index could bring in $400 million for Max Healthcare, according to an estimate from brokerage firm Nuvama in July.
For the year through July-end, shares of Max and InterGlobe rose 9.34% and 28.61%, respectively, while those of IndusInd fell 17.59%. Hero's stock was up 1.82%.
InterGlobe shares hit a record high earlier this week after Jefferies said it expected the airline's market share gains to sustain across domestic and international segments.
Meanwhile, IndusInd Bank took a $230 million hit in the year ended March 31 due to misaccounting in internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.
(Reporting by Hritam Mukherjee and Urvi Dugar in Bengaluru; Editing by Leroy Leo)
(([email protected];))
India's IndiGo hits record high on GST reform plan, hopes of market share gains
Updates
** Shares of Indian airline IndiGo INGL.NS rise as much as 3.2% to 6,174 rupees, a record high
** Jefferies ("Buy") says it expects INGL's market share gains to sustain across domestic and international segments, especially with Air India's capacity pullback
** Rise also mirrors broader market rally on GST reform plans
** INGL shows indisputable dominant presence in Indian aviation, steady aircraft deliveries outlook, and growth levers around international expansion - Jefferies
** INGL dominates India's domestic aviation market with nearly 63% market share as of December 2024
** Stock on track for fifth straight session of gains
** Analysts rate it "buy" on avg; median PT is 6,558 rupees - data compiled by LSEG
** Stock up 36% YTD
(Reporting by Komal Salecha)
Updates
** Shares of Indian airline IndiGo INGL.NS rise as much as 3.2% to 6,174 rupees, a record high
** Jefferies ("Buy") says it expects INGL's market share gains to sustain across domestic and international segments, especially with Air India's capacity pullback
** Rise also mirrors broader market rally on GST reform plans
** INGL shows indisputable dominant presence in Indian aviation, steady aircraft deliveries outlook, and growth levers around international expansion - Jefferies
** INGL dominates India's domestic aviation market with nearly 63% market share as of December 2024
** Stock on track for fifth straight session of gains
** Analysts rate it "buy" on avg; median PT is 6,558 rupees - data compiled by LSEG
** Stock up 36% YTD
(Reporting by Komal Salecha)
India presses for global 'code of conduct' over pilot poaching
Repeats story published earlier. No change to text.
India wrestling with shortages of experienced pilots
India concerned over foreign airlines poaching Indian pilots
Poaching affects Indian carriers’ ability to compete globally
By Allison Lampert and Aditya Kalra
MONTREAL/NEW DELHI Aug 8 (Reuters) - India wants countries to agree a new code of conduct on hiring each other's airline staff after raising concerns that its fast-growing aviation system is being stifled by the poaching of Indian pilots and cabin crew without adequate notice.
India, one of the world's fastest-growing aviation markets, is wrestling with a shortage of experienced pilots, denting Prime Minister Narendra Modi's aspiration of developing a job-creating global aviation hub. The recent fatal crash of an Air India jetliner has sparked tighter scrutiny of the sector.
But foreign airlines are repeatedly hiring skilled staff from Indian airlines, "adversely impacting India’s ability to develop its civil aviation sector in an orderly manner," India said in an August 1 working paper submitted to the U.N.'s aviation agency, the International Civil Aviation Organization.
"Airlines from other (countries) tend to recruit experienced pilots, engineers, technicians, and cabin crew from Indian carriers, preventing India's civil aviation sector from achieving planned and orderly growth," India wrote in the paper, without identifying any foreign airline by name.
"This practice creates a vicious cycle where Indian carriers are forced to continuously recruit and train replacement personnel by diverting resources from expansion activities and operational improvements."
The paper was released on the ICAO website ahead of its triennial assembly. It has not previously been reported.
India's Civil Aviation Ministry was not immediately available for comment.
India's government said in April the country would need 30,000 pilots over the next 15–20 years, up from the current 6,000–7,000, as airlines collectively had more than 1,700 aircraft on order.
India's domestic aviation sector is led by IndiGo INGL.NS and Air India, while all major international airlines from Emirates to British Airways to Lufthansa LHAG.DE operate regular flights. In 2023, Air India exchanged barbs with Akasa Air over the poaching of pilots domestically.
The working paper asks for the creation of a code of conduct on the movement of skilled aviation workers among ICAO's member countries.
It doesn't specify how the code of conduct would work.
"These challenges cause economic losses that affect Indian carriers’ ability to compete in international markets ... and achieve its ambitious target of 300 million domestic passengers by 2030," the paper said.
ICAO, which seeks to use consensus to set standards on everything from runways to seat belts, was created after the United States invited more than 50 allies to agree in 1944 to a common air navigation system.
(Allison Lampert in Montreal and Aditya Kalra in New Delhi. Editing by Mark Potter)
(([email protected], 514-796-4212))
Repeats story published earlier. No change to text.
India wrestling with shortages of experienced pilots
India concerned over foreign airlines poaching Indian pilots
Poaching affects Indian carriers’ ability to compete globally
By Allison Lampert and Aditya Kalra
MONTREAL/NEW DELHI Aug 8 (Reuters) - India wants countries to agree a new code of conduct on hiring each other's airline staff after raising concerns that its fast-growing aviation system is being stifled by the poaching of Indian pilots and cabin crew without adequate notice.
India, one of the world's fastest-growing aviation markets, is wrestling with a shortage of experienced pilots, denting Prime Minister Narendra Modi's aspiration of developing a job-creating global aviation hub. The recent fatal crash of an Air India jetliner has sparked tighter scrutiny of the sector.
But foreign airlines are repeatedly hiring skilled staff from Indian airlines, "adversely impacting India’s ability to develop its civil aviation sector in an orderly manner," India said in an August 1 working paper submitted to the U.N.'s aviation agency, the International Civil Aviation Organization.
"Airlines from other (countries) tend to recruit experienced pilots, engineers, technicians, and cabin crew from Indian carriers, preventing India's civil aviation sector from achieving planned and orderly growth," India wrote in the paper, without identifying any foreign airline by name.
"This practice creates a vicious cycle where Indian carriers are forced to continuously recruit and train replacement personnel by diverting resources from expansion activities and operational improvements."
The paper was released on the ICAO website ahead of its triennial assembly. It has not previously been reported.
India's Civil Aviation Ministry was not immediately available for comment.
India's government said in April the country would need 30,000 pilots over the next 15–20 years, up from the current 6,000–7,000, as airlines collectively had more than 1,700 aircraft on order.
India's domestic aviation sector is led by IndiGo INGL.NS and Air India, while all major international airlines from Emirates to British Airways to Lufthansa LHAG.DE operate regular flights. In 2023, Air India exchanged barbs with Akasa Air over the poaching of pilots domestically.
The working paper asks for the creation of a code of conduct on the movement of skilled aviation workers among ICAO's member countries.
It doesn't specify how the code of conduct would work.
"These challenges cause economic losses that affect Indian carriers’ ability to compete in international markets ... and achieve its ambitious target of 300 million domestic passengers by 2030," the paper said.
ICAO, which seeks to use consensus to set standards on everything from runways to seat belts, was created after the United States invited more than 50 allies to agree in 1944 to a common air navigation system.
(Allison Lampert in Montreal and Aditya Kalra in New Delhi. Editing by Mark Potter)
(([email protected], 514-796-4212))
India's IndiGo airline operator choppy after disappointing Q1 results
** Shares of India's Interglobe Aviation INGL.NS, which operates budget airline IndiGo, volatile in early trade
** Shares swing between 0.7% gains and 0.6% losses; benchmark Nifty 50 .NSEI down 0.7% after Trump's 25% tariff, penalty threat .BO
** Carrier's Q1 rev growth slowed y/y on subdued demand after India-Pakistan conflict, fatal Air India crash; profit dropped as forex losses widened
** Emkay Research says INGL's Q1 rev and core profits missed its estimates, mainly owing to yields coming 4% below expectations
** Still, brokerage maintains "buy", hikes TP by 8% to 6,500 rupees, citing airline's market dominance, overseas expansion, positive sector outlook
** On avg, stock rated "buy", median TP 6,500 rupees - data compiled by LSEG
** YTD stock up ~26%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's Interglobe Aviation INGL.NS, which operates budget airline IndiGo, volatile in early trade
** Shares swing between 0.7% gains and 0.6% losses; benchmark Nifty 50 .NSEI down 0.7% after Trump's 25% tariff, penalty threat .BO
** Carrier's Q1 rev growth slowed y/y on subdued demand after India-Pakistan conflict, fatal Air India crash; profit dropped as forex losses widened
** Emkay Research says INGL's Q1 rev and core profits missed its estimates, mainly owing to yields coming 4% below expectations
** Still, brokerage maintains "buy", hikes TP by 8% to 6,500 rupees, citing airline's market dominance, overseas expansion, positive sector outlook
** On avg, stock rated "buy", median TP 6,500 rupees - data compiled by LSEG
** YTD stock up ~26%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Indian airline IndiGo posts lower first-quarter profit as forex losses widen
July 30 (Reuters) - IndiGo airline operator Interglobe Aviation INGL.NS reported a drop in first-quarter profit on Wednesday, hurt by higher costs as foreign exchange losses ballooned.
India's biggest airline by market share reported a profit of 21.61 billion rupees ($247.2 million) for April-June period, down from 27.27 billion rupees a year ago.
($1 = 87.4230 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected]; X: @MukherjeeHritam;))
July 30 (Reuters) - IndiGo airline operator Interglobe Aviation INGL.NS reported a drop in first-quarter profit on Wednesday, hurt by higher costs as foreign exchange losses ballooned.
India's biggest airline by market share reported a profit of 21.61 billion rupees ($247.2 million) for April-June period, down from 27.27 billion rupees a year ago.
($1 = 87.4230 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected]; X: @MukherjeeHritam;))
Interglobe Aviation Says Whitaker's Appointment Effective July 14, 2025 After MoCA Clearance
July 15 (Reuters) - Interglobe Aviation Ltd INGL.NS:
APPOINTS MICHAEL G. WHITAKER AS INDEPENDENT DIRECTOR
WHITAKER'S APPOINTMENT EFFECTIVE JULY 14, 2025 AFTER MOCA CLEARANCE
Source text: ID:nBSE53pZ7D
Further company coverage: INGL.NS
(([email protected];;))
July 15 (Reuters) - Interglobe Aviation Ltd INGL.NS:
APPOINTS MICHAEL G. WHITAKER AS INDEPENDENT DIRECTOR
WHITAKER'S APPOINTMENT EFFECTIVE JULY 14, 2025 AFTER MOCA CLEARANCE
Source text: ID:nBSE53pZ7D
Further company coverage: INGL.NS
(([email protected];;))
Indigo And Kotak Mahindra Bank Partner To Introduce Co-Branded Credit Cards
July 10 (Reuters) - Interglobe Aviation Ltd INGL.NS:
CO AND KOTAK MAHINDRA BANK PARTNER TO INTRODUCE CO-BRANDED CREDIT CARDS
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
July 10 (Reuters) - Interglobe Aviation Ltd INGL.NS:
CO AND KOTAK MAHINDRA BANK PARTNER TO INTRODUCE CO-BRANDED CREDIT CARDS
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Indigo Says Indigo Ventures Announced First Close Of Its Maiden Fund At 4.5 Bln Rupees
July 9 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO VENTURES ANNOUNCED FIRST CLOSE OF ITS MAIDEN FUND AT 4.5 BILLION RUPEES
INDIGO VENTURES MAKES DEBUT INVESTMENT IN JEH AEROSPACE
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
July 9 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO VENTURES ANNOUNCED FIRST CLOSE OF ITS MAIDEN FUND AT 4.5 BILLION RUPEES
INDIGO VENTURES MAKES DEBUT INVESTMENT IN JEH AEROSPACE
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Indigo Partners With Infiniti Software Solutions
July 4 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO- PARTNERED WITH INFINITI SOFTWARE SOLUTIONS
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
July 4 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO- PARTNERED WITH INFINITI SOFTWARE SOLUTIONS
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
Indigo Approves Appointment Of Amitabh Kant As A Director
July 3 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - APPROVED APPOINTMENT OF AMITABH KANT AS A DIRECTOR
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
July 3 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - APPROVED APPOINTMENT OF AMITABH KANT AS A DIRECTOR
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Indian lawmakers to review aviation safety weeks after Air India crash
By Saurabh Sharma and Aditya Kalra
NEW DELHI, July 1 (Reuters) - A panel of Indian lawmakers will review safety in the country's civil aviation sector and has invited several industry and government officials to answer questions on July 9, with topics set to include Air India's recent plane crash.
The upper house of India's parliament has asked airport operators, air traffic controllers and airlines including Air India and IndiGo INGL.NS to take part in a comprehensive review of passenger safety, according to a memo drafted for the meeting and seen by Reuters.
The gathering comes after the June 12 Air India disaster that killed 260 people, including 241 on board, when a Boeing BA.N 787-8 jet crashed within a minute of take-off from India's Ahmedabad. Investigators are still probing what caused the world's worst aviation accident in a decade.
Though the memo did not mention the crash, R K Chaudhary, a lawmaker on the panel, told Reuters that it planned to discuss the matter internally and during the meeting.
"If we will not raise questions on it, they (airlines) will not become vigilant about these issues," he said.
The Indian government has said data from the front recorder of the crashed plane was accessed by a team led by India's Aircraft Accident Investigation Bureau, with the U.S. National Transportation Safety Board.
Air India has been getting warning notices for compliance lapses in recent days.
India's aviation watchdog last month warned the airline over "repeated and serious violations" related to pilot duty scheduling. It has also warned Air India for breaching safety rules after three of its Airbus AIR.PA planes flew despite being overdue checks on escape slides.
(Reporting by Aditya Kalra. Editing by Mark Potter)
((Email: [email protected]; X: @adityakalra;))
By Saurabh Sharma and Aditya Kalra
NEW DELHI, July 1 (Reuters) - A panel of Indian lawmakers will review safety in the country's civil aviation sector and has invited several industry and government officials to answer questions on July 9, with topics set to include Air India's recent plane crash.
The upper house of India's parliament has asked airport operators, air traffic controllers and airlines including Air India and IndiGo INGL.NS to take part in a comprehensive review of passenger safety, according to a memo drafted for the meeting and seen by Reuters.
The gathering comes after the June 12 Air India disaster that killed 260 people, including 241 on board, when a Boeing BA.N 787-8 jet crashed within a minute of take-off from India's Ahmedabad. Investigators are still probing what caused the world's worst aviation accident in a decade.
Though the memo did not mention the crash, R K Chaudhary, a lawmaker on the panel, told Reuters that it planned to discuss the matter internally and during the meeting.
"If we will not raise questions on it, they (airlines) will not become vigilant about these issues," he said.
The Indian government has said data from the front recorder of the crashed plane was accessed by a team led by India's Aircraft Accident Investigation Bureau, with the U.S. National Transportation Safety Board.
Air India has been getting warning notices for compliance lapses in recent days.
India's aviation watchdog last month warned the airline over "repeated and serious violations" related to pilot duty scheduling. It has also warned Air India for breaching safety rules after three of its Airbus AIR.PA planes flew despite being overdue checks on escape slides.
(Reporting by Aditya Kalra. Editing by Mark Potter)
((Email: [email protected]; X: @adityakalra;))
India's IndiGo hits record high; brokerage expects co to maintain 'competitive position'
** India's IndiGo INGL.NS rises 2.8% to record high of 5,980 rupees
** The blue-chip Nifty 50 was down 0.5% as of 3.04 pm IST
** Brokerage Emkay says India's largest airline will maintain its "competitive position" for at least the next 3-5 years
** "The company's dominant market share and ability to add new aircraft at short notice places it in pole position to secure 60-70% of the incremental domestic traffic," in the medium-term, analysts say in the note
** 18 of the 21 analysts covering the stock have a "buy" or higher rating, 2 at "hold" and 1 at "sell" or lower; median PT is 6,337.50 rupees - LSEG data
** Up to Friday's close, stock has risen about 27.7% so far this year
(Reporting by Abinaya Vijayaraghavan)
** India's IndiGo INGL.NS rises 2.8% to record high of 5,980 rupees
** The blue-chip Nifty 50 was down 0.5% as of 3.04 pm IST
** Brokerage Emkay says India's largest airline will maintain its "competitive position" for at least the next 3-5 years
** "The company's dominant market share and ability to add new aircraft at short notice places it in pole position to secure 60-70% of the incremental domestic traffic," in the medium-term, analysts say in the note
** 18 of the 21 analysts covering the stock have a "buy" or higher rating, 2 at "hold" and 1 at "sell" or lower; median PT is 6,337.50 rupees - LSEG data
** Up to Friday's close, stock has risen about 27.7% so far this year
(Reporting by Abinaya Vijayaraghavan)
Indigo's Kochi-Delhi Flight Makes Emergency Landing In India's Nagpur After Receiving Bomb Threat - India Today
June 17 (Reuters) -
INDIGO'S KOCHI-DELHI FLIGHT MAKES EMERGENCY LANDING IN INDIA'S NAGPUR AFTER RECEIVING BOMB THREAT - INDIA TODAY
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
June 17 (Reuters) -
INDIGO'S KOCHI-DELHI FLIGHT MAKES EMERGENCY LANDING IN INDIA'S NAGPUR AFTER RECEIVING BOMB THREAT - INDIA TODAY
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
InterGlobe Enterprises Says Media Reports On IndiGo Stake Sale By Co Have No Factual Basis
June 16 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INTERGLOBE ENTERPRISES - MEDIA REPORTS ON INDIGO STAKE SALE BY CO HAVE NO FACTUAL BASIS
INTERGLOBE ENTERPRISES - FIRMLY COMMITTED TO OVERSEE INDIGO'S LONG-TERM PLANS
Further company coverage: INGL.NS
(([email protected];))
June 16 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INTERGLOBE ENTERPRISES - MEDIA REPORTS ON INDIGO STAKE SALE BY CO HAVE NO FACTUAL BASIS
INTERGLOBE ENTERPRISES - FIRMLY COMMITTED TO OVERSEE INDIGO'S LONG-TERM PLANS
Further company coverage: INGL.NS
(([email protected];))
India's IndiGo promoter likely to sell part of stake via block deals, CNBC-TV18 says
June 13 (Reuters) - Indian airline IndiGo's INGL.NS promoter group, Interglobe Enterprises, will likely sell about a 4% stake through block deals and is looking to raise around $1 billion from the sale, news channel CNBC-TV18 reported on Friday, citing sources.
Interglobe Enterprises holds a 35.71% stake in IndiGo, as per data from exchanges.
Reuters was not able to confirm the report independently. IndiGo and Interglobe Enterprises did not immediately respond to Reuters' requests for comment.
IndiGo's co-founder Rakesh Gangwal sold a 5.7% stake worth $1.36 billion in the low-cost carrier through a block deal, Reuters reported on May 27.
Shares of the airline were down all through Friday, a day after more than 240 people were killed when an Air India plane bound for London crashed moments after take-off in India's Ahmedabad city.
($1 = 86.0990 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +918447554364;))
June 13 (Reuters) - Indian airline IndiGo's INGL.NS promoter group, Interglobe Enterprises, will likely sell about a 4% stake through block deals and is looking to raise around $1 billion from the sale, news channel CNBC-TV18 reported on Friday, citing sources.
Interglobe Enterprises holds a 35.71% stake in IndiGo, as per data from exchanges.
Reuters was not able to confirm the report independently. IndiGo and Interglobe Enterprises did not immediately respond to Reuters' requests for comment.
IndiGo's co-founder Rakesh Gangwal sold a 5.7% stake worth $1.36 billion in the low-cost carrier through a block deal, Reuters reported on May 27.
Shares of the airline were down all through Friday, a day after more than 240 people were killed when an Air India plane bound for London crashed moments after take-off in India's Ahmedabad city.
($1 = 86.0990 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +918447554364;))
Indigo And Garuda Indonesia Announce Codeshare Partnership
June 3 (Reuters) -
INDIGO- INDIGO AND GARUDA INDONESIA ANNOUNCE CODESHARE PARTNERSHIP
(([email protected];))
June 3 (Reuters) -
INDIGO- INDIGO AND GARUDA INDONESIA ANNOUNCE CODESHARE PARTNERSHIP
(([email protected];))
Delta CEO Says Will Resume Service To India Over The Next Couple Of Years
June 1 (Reuters) - Delta Air Lines Inc DAL.N:
DELTA CEO: WILL RESUME SERVICE TO INDIA OVER THE NEXT COUPLE OF YEARS
DELTA CEO: HAD NO PLANS TO MAKE INVESTMENT IN INDIGO
Source text: [ID:]
Further company coverage: DAL.N
(([email protected];))
June 1 (Reuters) - Delta Air Lines Inc DAL.N:
DELTA CEO: WILL RESUME SERVICE TO INDIA OVER THE NEXT COUPLE OF YEARS
DELTA CEO: HAD NO PLANS TO MAKE INVESTMENT IN INDIGO
Source text: [ID:]
Further company coverage: DAL.N
(([email protected];))
India's IndiGo to add 10 new international destinations to its network
May 30 (Reuters) - Indian airline IndiGo INGL.NS will add 10 international destinations and broaden its business class offerings overseas this year, CEO Pieter Elbers said on Friday, ramping up competition with rival Air India.
The move marks a fresh push by IndiGo to tap into premium international travel, a space long dominated by Tata-owned Air India.
IndiGo, which holds nearly 60% of India's domestic market, flew 1.8 million international passengers in the October–December quarter, just behind Air India and its budget unit's combined 2 million, DGCA data showed.
The company will add business class seats on routes to Singapore, Phuket and Dubai, CEO Pieter Elbers said at an event in Delhi on Friday, without specifying the Indian departure points.
The airline also plans to expand its long-haul network later this year with new destinations including London, Copenhagen, Athens, and Southeast Asian countries and cities like Hanoi and Cambodia.
Earlier this year, IndiGo said it aims to increase international seat capacity and expand its fleet to over 600 aircraft by fiscal 2030. It has also signed a deal with Bengaluru International Airport to develop maintenance, repair and overhaul (MRO) infrastructure to support this growth.
(Reporting by Abhijith Ganapavaram in New Delhi and Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
May 30 (Reuters) - Indian airline IndiGo INGL.NS will add 10 international destinations and broaden its business class offerings overseas this year, CEO Pieter Elbers said on Friday, ramping up competition with rival Air India.
The move marks a fresh push by IndiGo to tap into premium international travel, a space long dominated by Tata-owned Air India.
IndiGo, which holds nearly 60% of India's domestic market, flew 1.8 million international passengers in the October–December quarter, just behind Air India and its budget unit's combined 2 million, DGCA data showed.
The company will add business class seats on routes to Singapore, Phuket and Dubai, CEO Pieter Elbers said at an event in Delhi on Friday, without specifying the Indian departure points.
The airline also plans to expand its long-haul network later this year with new destinations including London, Copenhagen, Athens, and Southeast Asian countries and cities like Hanoi and Cambodia.
Earlier this year, IndiGo said it aims to increase international seat capacity and expand its fleet to over 600 aircraft by fiscal 2030. It has also signed a deal with Bengaluru International Airport to develop maintenance, repair and overhaul (MRO) infrastructure to support this growth.
(Reporting by Abhijith Ganapavaram in New Delhi and Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
IndiGo co-founder sells $1.36 billion of airline's shares, term sheet shows
Updates to show deal completed and add share sale price
By Scott Murdoch
SYDNEY, May 27 (Reuters) - The co-founder of Indian airline IndiGo INGL.NS, Rakesh Gangwal, sold a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, a term sheet showed on Tuesday.
The shares were sold at 5,230.5 rupees ($61.35) each, the term sheet seen by Reuters showed, representing a discount of 3.5% to the company's closing price on Monday.
IndiGo did not immediately respond to a request for comment.
Around 22.1 million shares were sold, the term sheet showed. The number of shares was increased from the original size of up to 13.2 million shares worth about $803 million.
Gangwal held about 13.5% of IndiGo shares, according to the term sheet.
Goldman Sachs, Morgan Stanley and JPMorgan led the share sale, the term sheet showed.
($1 = 85.2520 Indian rupees)
(Reporting by Scott Murdoch; Additional reporting by Kashish Tandon; Editing by Clarence Fernandez and Muralikumar Anantharaman)
(([email protected];))
Updates to show deal completed and add share sale price
By Scott Murdoch
SYDNEY, May 27 (Reuters) - The co-founder of Indian airline IndiGo INGL.NS, Rakesh Gangwal, sold a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, a term sheet showed on Tuesday.
The shares were sold at 5,230.5 rupees ($61.35) each, the term sheet seen by Reuters showed, representing a discount of 3.5% to the company's closing price on Monday.
IndiGo did not immediately respond to a request for comment.
Around 22.1 million shares were sold, the term sheet showed. The number of shares was increased from the original size of up to 13.2 million shares worth about $803 million.
Gangwal held about 13.5% of IndiGo shares, according to the term sheet.
Goldman Sachs, Morgan Stanley and JPMorgan led the share sale, the term sheet showed.
($1 = 85.2520 Indian rupees)
(Reporting by Scott Murdoch; Additional reporting by Kashish Tandon; Editing by Clarence Fernandez and Muralikumar Anantharaman)
(([email protected];))
India to discuss with security agencies IndiGo's Turkish Airlines partnership
By Abhijith Ganapavaram
NEW DELHI, May 23 (Reuters) - India will discuss with security agencies IndiGo's codeshare and leasing pacts with Turkish Airlines and decide on further action, its civil aviation minister said on Friday.
The move follows growing public anger in India against Turkey's support for Pakistan during a recent conflict sparked by an attack on tourists by Islamist assailants in Indian Kashmir.
"We are taking input from IndiGo on that and also with the necessary security agencies, and we'd like to see how to proceed with that," Minister Rammohan Naidu told reporters on the sidelines of an event in New Delhi.
IndiGo and Turkish Airlines did not immediately respond to requests for comment.
IndiGo has previously defended the partnership, saying that it offers multiple benefits to Indian travellers, boosts aviation growth and jobs, and has enabled IndiGo to build its presence in long-haul markets in Europe and the U.S.
IndiGo began a codeshare partnership with Turkish Airlines in 2018, allowing it to offer many international destinations to its customers.
Since 2023, India's dominant domestic airline has also had a leasing arrangement with state-backed Turkish Airlines, which has provided two planes with pilots and some crew to IndiGo to operate on New Delhi- and Mumbai-to-Istanbul routes.
The two agreements have faced growing calls to be scrapped.
Rival Air India has lobbied Indian officials to halt IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns sparked by Istanbul's support for Pakistan, Reuters reported last week.
The Indian government earlier this month revoked security clearance of the Turkish ground handling service firm Celebi, citing national security, resulting in a lawsuit from the Indian arm of the Turkish firm.
Small Indian grocery shops and major online fashion retailers are boycotting Turkish products, including chocolates, coffee, jams, cosmetics and clothing.
The boycott came after Turkish President Tayyip Erdogan expressed public solidarity with Pakistan after India conducted military strikes in response to the killing of tourists.
(Reporting by Abhijith Ganapavaram in New Delhi; Additional reporting by Nandan Mandayam in Bengaluru; Editing by Lisa Shumaker)
((Email: [email protected]; Mobile: +91-9019785574;))
By Abhijith Ganapavaram
NEW DELHI, May 23 (Reuters) - India will discuss with security agencies IndiGo's codeshare and leasing pacts with Turkish Airlines and decide on further action, its civil aviation minister said on Friday.
The move follows growing public anger in India against Turkey's support for Pakistan during a recent conflict sparked by an attack on tourists by Islamist assailants in Indian Kashmir.
"We are taking input from IndiGo on that and also with the necessary security agencies, and we'd like to see how to proceed with that," Minister Rammohan Naidu told reporters on the sidelines of an event in New Delhi.
IndiGo and Turkish Airlines did not immediately respond to requests for comment.
IndiGo has previously defended the partnership, saying that it offers multiple benefits to Indian travellers, boosts aviation growth and jobs, and has enabled IndiGo to build its presence in long-haul markets in Europe and the U.S.
IndiGo began a codeshare partnership with Turkish Airlines in 2018, allowing it to offer many international destinations to its customers.
Since 2023, India's dominant domestic airline has also had a leasing arrangement with state-backed Turkish Airlines, which has provided two planes with pilots and some crew to IndiGo to operate on New Delhi- and Mumbai-to-Istanbul routes.
The two agreements have faced growing calls to be scrapped.
Rival Air India has lobbied Indian officials to halt IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns sparked by Istanbul's support for Pakistan, Reuters reported last week.
The Indian government earlier this month revoked security clearance of the Turkish ground handling service firm Celebi, citing national security, resulting in a lawsuit from the Indian arm of the Turkish firm.
Small Indian grocery shops and major online fashion retailers are boycotting Turkish products, including chocolates, coffee, jams, cosmetics and clothing.
The boycott came after Turkish President Tayyip Erdogan expressed public solidarity with Pakistan after India conducted military strikes in response to the killing of tourists.
(Reporting by Abhijith Ganapavaram in New Delhi; Additional reporting by Nandan Mandayam in Bengaluru; Editing by Lisa Shumaker)
((Email: [email protected]; Mobile: +91-9019785574;))
Street View: Crude prices among key monitorables for India's IndiGo
** Interglobe Aviation INGL.NS flat, paring initial losses
** Indigo airlines-operator hinted at potential Q1 revenue hit as demand for some routes plummeted during the most intense India-Pakistan conflict in decades, following its first quarterly profit rise in four
** Of 20 analysts covering INGL, at least eight hiked TPs, seven upgraded stock post-results, per data compiled by LSEG
INDIA-PAKISTAN CONFLICT "ONE-TIME BLIP"
** Jefferies ("buy", raises PT to 6300 rupees): The conflict weighing on Q1 demand will be "one-off blip"; sees soft crude prices overshadowing demand hit
** Motilal Oswal ("buy", PT 6,375 rupees): Sharp volatility in crude or rupee "key downside risk", could pressurize margins if not passed on
** Investec ("sell"; TP 4050 rupees): Stock pricing in strong future growth, upside is limited; advise profit booking at current levels
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Interglobe Aviation INGL.NS flat, paring initial losses
** Indigo airlines-operator hinted at potential Q1 revenue hit as demand for some routes plummeted during the most intense India-Pakistan conflict in decades, following its first quarterly profit rise in four
** Of 20 analysts covering INGL, at least eight hiked TPs, seven upgraded stock post-results, per data compiled by LSEG
INDIA-PAKISTAN CONFLICT "ONE-TIME BLIP"
** Jefferies ("buy", raises PT to 6300 rupees): The conflict weighing on Q1 demand will be "one-off blip"; sees soft crude prices overshadowing demand hit
** Motilal Oswal ("buy", PT 6,375 rupees): Sharp volatility in crude or rupee "key downside risk", could pressurize margins if not passed on
** Investec ("sell"; TP 4050 rupees): Stock pricing in strong future growth, upside is limited; advise profit booking at current levels
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Indigo Q4 Profit 30.73 Billion Rupees
May 21 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO Q4 PROFIT 30.73 BILLION RUPEES
INDIGO Q4 REVENUE FROM OPERATIONS 221.52 BILLION RUPEES
INDIGO - DIVIDEND 10 RUPEES PER SHARE
Further company coverage: INGL.NS
(([email protected];))
May 21 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO Q4 PROFIT 30.73 BILLION RUPEES
INDIGO Q4 REVENUE FROM OPERATIONS 221.52 BILLION RUPEES
INDIGO - DIVIDEND 10 RUPEES PER SHARE
Further company coverage: INGL.NS
(([email protected];))
EXCLUSIVE-Air India sees Pakistan airspace ban costing it $600 million over 12 months, seeks aid
Repeats Thursday's story with no changes to text
India, Pakistan tensions taking toll on aviation sector
Pakistan airspace ban hits Indian carriers with longer routes
Air India pushes government to support the carrier, letter shows
Tata-owned Indian airline already faces losses
By Aditya Kalra, Abhijith Ganapavaram
NEW DELHI, May 1 (Reuters) - Air India expects to face around $600 million in additional costs if a ban from Pakistan's airspace lasts for a year, and has asked the federal government to compensate it for the hit, a company letter seen by Reuters shows.
Indian airlines are bracing for higher fuel costs and longer journey times after Pakistan shut its airspace to the country's carriers in a tit-for-tat retaliation following an attack on tourists in Kashmir last week.
Air India on April 27 asked the Indian government for a "subsidy model" proportionate to the economic hit, estimating a loss of more than 50 billion Indian rupees ($591 million) for each year the ban lasts, according to a letter sent by the airline to the Civil Aviation Ministry seen by Reuters.
"Subsidy for affected international flights is a good, verifiable and fair option ... the subsidy can be removed when the situation improves," the letter said.
"The impact on Air India is maximum due to airspace closure, due to additional fuel burn...additional crew."
Air India declined to comment. India's Civil Aviation Ministry did not immediately respond to a request for comment.
Air India's letter was sent after the government asked its executives to assess the impact of the airspace ban on Indian carriers, said a source with direct knowledge of the matter.
The Tata Group-owned airline is in the midst of a multi-billion dollar turnaround after a period of government ownership, and growth is already constrained by jet delivery delays from Boeing and Airbus. It reported a net loss of $520 million in fiscal 2023-2024, on sales of $4.6 billion.
Air India, which has a 26.5% market share in India, flies to Europe, the United States and Canada, often crossing Pakistan's airspace. It operates many more long-haul routes than bigger domestic rival IndiGo.
Data from Cirium Ascend shows IndiGo, Air India and its budget unit Air India Express had roughly 1,200 flights combined from New Delhi scheduled for Europe, the Middle East and North America in April.
The Indian government is considering options to reduce the hit to the airline industry from the closure of Pakistan's airspace, three other people familiar with the matter said.
One of the sources said Indian carriers met with the Civil Aviation Ministry to work on possible solutions, including flying over difficult terrain closer to China, and some tax exemptions.
In its letter, Air India asked the government to liaise with Chinese authorities for certain overflight clearances, without elaborating.
It also asked the government to approve the carrying of extra pilots on flights on the United States and Canada to account for longer travel times.
(Reporting by Aditya Kalra and Abhijith Ganapavaram; Editing by Kirsten Donovan)
((Email: [email protected]; Mobile: +91-9019785574;))
Repeats Thursday's story with no changes to text
India, Pakistan tensions taking toll on aviation sector
Pakistan airspace ban hits Indian carriers with longer routes
Air India pushes government to support the carrier, letter shows
Tata-owned Indian airline already faces losses
By Aditya Kalra, Abhijith Ganapavaram
NEW DELHI, May 1 (Reuters) - Air India expects to face around $600 million in additional costs if a ban from Pakistan's airspace lasts for a year, and has asked the federal government to compensate it for the hit, a company letter seen by Reuters shows.
Indian airlines are bracing for higher fuel costs and longer journey times after Pakistan shut its airspace to the country's carriers in a tit-for-tat retaliation following an attack on tourists in Kashmir last week.
Air India on April 27 asked the Indian government for a "subsidy model" proportionate to the economic hit, estimating a loss of more than 50 billion Indian rupees ($591 million) for each year the ban lasts, according to a letter sent by the airline to the Civil Aviation Ministry seen by Reuters.
"Subsidy for affected international flights is a good, verifiable and fair option ... the subsidy can be removed when the situation improves," the letter said.
"The impact on Air India is maximum due to airspace closure, due to additional fuel burn...additional crew."
Air India declined to comment. India's Civil Aviation Ministry did not immediately respond to a request for comment.
Air India's letter was sent after the government asked its executives to assess the impact of the airspace ban on Indian carriers, said a source with direct knowledge of the matter.
The Tata Group-owned airline is in the midst of a multi-billion dollar turnaround after a period of government ownership, and growth is already constrained by jet delivery delays from Boeing and Airbus. It reported a net loss of $520 million in fiscal 2023-2024, on sales of $4.6 billion.
Air India, which has a 26.5% market share in India, flies to Europe, the United States and Canada, often crossing Pakistan's airspace. It operates many more long-haul routes than bigger domestic rival IndiGo.
Data from Cirium Ascend shows IndiGo, Air India and its budget unit Air India Express had roughly 1,200 flights combined from New Delhi scheduled for Europe, the Middle East and North America in April.
The Indian government is considering options to reduce the hit to the airline industry from the closure of Pakistan's airspace, three other people familiar with the matter said.
One of the sources said Indian carriers met with the Civil Aviation Ministry to work on possible solutions, including flying over difficult terrain closer to China, and some tax exemptions.
In its letter, Air India asked the government to liaise with Chinese authorities for certain overflight clearances, without elaborating.
It also asked the government to approve the carrying of extra pilots on flights on the United States and Canada to account for longer travel times.
(Reporting by Aditya Kalra and Abhijith Ganapavaram; Editing by Kirsten Donovan)
((Email: [email protected]; Mobile: +91-9019785574;))
Indian airlines to suffer higher costs, detours in ban from Pakistan airspace
Pakistan-India tensions take toll on top Indian airlines
Flights to take longer routes after Pakistani airspace shut
Indian pilot says flying hours, rosters will need to be reworked
Indian airlines suffered losses in 2019 due to similar move
Adds IndiGo statement on cancellations in paragraph 8
By Abhijith Ganapavaram, Aditya Kalra and Aditi Shah
NEW DELHI, April 25 (Reuters) - Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid tensions over a deadly militant attack in Kashmir.
India has said there were Pakistani elements in Tuesday's attack in which gunmen killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.
The nuclear-armed arch-rivals have unleashed a raft of measures against each other in response, with India putting a critical river water-sharing treaty in abeyance.
International airlines are not affected by the ban.
But late on Thursday, Air India and IndiGo INGL.NS began to reroute flights to New York, Azerbaijan and Dubai - all of which typically use Pakistan airspace, according to data from tracking website Flightradar24.
The worst-hit airport will be New Delhi, one of the world's busiest, from where flights cross Pakistani airspace to fly to destinations in the West and the Middle East.
Data from Cirium Ascend showed IndiGo, Air India and its budget unit Air India Express have roughly 1,200 flights combined from New Delhi scheduled for Europe, the Middle East and North America in April.
Air India's flights to the Middle East from New Delhi will take about an hour longer, which means more fuel and less cargo, said an Indian aviation executive who declined to be identified.
Aircraft fuel and oil usually make up about 30% of an airline's operating costs, by far the biggest component.
FLIGHTS CANCELLED OR ADJUSTED, PILOT ROSTERS TO CHANGE
IndiGo said about 50 international routes may be adjusted slightly. It also said it was cancelling flights to Almaty from April 27 until at least May 7 and to Tashkent from April 28 until May 7.
Indian airlines' expansion plans have already been complicated by delivery delays from Boeing and Airbus.
One Indian airline pilot told Reuters the ban would force airlines to redo their calculations on permitted flying hours and adjust crew and pilot rosters accordingly.
Another executive said staff at his airline worked late into the night on Thursday on the consequences of the ban.
Both spoke on condition of anonymity.
IndiGo flight 6E1803 from New Delhi to Baku on Thursday took 5 hours and 43 minutes via a longer route that involved going southwest to India's Gujarat state and then over the Arabian Sea, before swinging back north over Iran to Azerbaijan, FlightAware data showed. The same flight, through Pakistan airspace, took 5 hours 5 minutes on Wednesday.
Pakistan put the ban in place until May 23.
In 2019, India's government said that the closure of Pakistan airspace for about five months caused a loss of at least $64 million to Air India, IndiGo and other airlines.
(Reporting by Abhijith Ganapavaram, Aditya Kalra and Aditi Shah; Editing by Kevin Liffey)
((Email: [email protected]; Mobile: +91-9019785574;))
Pakistan-India tensions take toll on top Indian airlines
Flights to take longer routes after Pakistani airspace shut
Indian pilot says flying hours, rosters will need to be reworked
Indian airlines suffered losses in 2019 due to similar move
Adds IndiGo statement on cancellations in paragraph 8
By Abhijith Ganapavaram, Aditya Kalra and Aditi Shah
NEW DELHI, April 25 (Reuters) - Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid tensions over a deadly militant attack in Kashmir.
India has said there were Pakistani elements in Tuesday's attack in which gunmen killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.
The nuclear-armed arch-rivals have unleashed a raft of measures against each other in response, with India putting a critical river water-sharing treaty in abeyance.
International airlines are not affected by the ban.
But late on Thursday, Air India and IndiGo INGL.NS began to reroute flights to New York, Azerbaijan and Dubai - all of which typically use Pakistan airspace, according to data from tracking website Flightradar24.
The worst-hit airport will be New Delhi, one of the world's busiest, from where flights cross Pakistani airspace to fly to destinations in the West and the Middle East.
Data from Cirium Ascend showed IndiGo, Air India and its budget unit Air India Express have roughly 1,200 flights combined from New Delhi scheduled for Europe, the Middle East and North America in April.
Air India's flights to the Middle East from New Delhi will take about an hour longer, which means more fuel and less cargo, said an Indian aviation executive who declined to be identified.
Aircraft fuel and oil usually make up about 30% of an airline's operating costs, by far the biggest component.
FLIGHTS CANCELLED OR ADJUSTED, PILOT ROSTERS TO CHANGE
IndiGo said about 50 international routes may be adjusted slightly. It also said it was cancelling flights to Almaty from April 27 until at least May 7 and to Tashkent from April 28 until May 7.
Indian airlines' expansion plans have already been complicated by delivery delays from Boeing and Airbus.
One Indian airline pilot told Reuters the ban would force airlines to redo their calculations on permitted flying hours and adjust crew and pilot rosters accordingly.
Another executive said staff at his airline worked late into the night on Thursday on the consequences of the ban.
Both spoke on condition of anonymity.
IndiGo flight 6E1803 from New Delhi to Baku on Thursday took 5 hours and 43 minutes via a longer route that involved going southwest to India's Gujarat state and then over the Arabian Sea, before swinging back north over Iran to Azerbaijan, FlightAware data showed. The same flight, through Pakistan airspace, took 5 hours 5 minutes on Wednesday.
Pakistan put the ban in place until May 23.
In 2019, India's government said that the closure of Pakistan airspace for about five months caused a loss of at least $64 million to Air India, IndiGo and other airlines.
(Reporting by Abhijith Ganapavaram, Aditya Kalra and Aditi Shah; Editing by Kevin Liffey)
((Email: [email protected]; Mobile: +91-9019785574;))
India's IndiGo appoints former FAA chief Whitaker as independent director
April 24 (Reuters) - India's top airline IndiGo INGL.NS said on Thursday that it has appointed former U.S. Federal Aviation Administration chief Mike Whitaker as an independent director on its board.
Whitaker served as the head of the FAA, the U.S. agency in charge of air safety, efficiency, and the air traffic system, from October 2023 to January this year, during which he oversaw the agency's response to significant safety issues at Boeing BA.N.
IndiGo, the world's second-largest airline by market capitalisation, has been tapping India's growing outbound travel market to drive growth as capacity constraints hinder domestic growth.
The appointment comes as IndiGo has been expanding internationally, while also trying to attract more affluent passengers in a departure from its low-cost model focus. It ordered its first-ever widebody aircraft in April last year.
Whitaker's extensive experience in international governmental affairs "will be hugely instrumental as IndiGo continues its global expansion", said Managing Director Rahul Bhatia.
Later this year, IndiGo will fly its wet-leased Boeing 787s to Manchester and Amsterdam, marking its entry into long-haul travel.
(Reporting by Ashish Chandra and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +91 7982114624;))
April 24 (Reuters) - India's top airline IndiGo INGL.NS said on Thursday that it has appointed former U.S. Federal Aviation Administration chief Mike Whitaker as an independent director on its board.
Whitaker served as the head of the FAA, the U.S. agency in charge of air safety, efficiency, and the air traffic system, from October 2023 to January this year, during which he oversaw the agency's response to significant safety issues at Boeing BA.N.
IndiGo, the world's second-largest airline by market capitalisation, has been tapping India's growing outbound travel market to drive growth as capacity constraints hinder domestic growth.
The appointment comes as IndiGo has been expanding internationally, while also trying to attract more affluent passengers in a departure from its low-cost model focus. It ordered its first-ever widebody aircraft in April last year.
Whitaker's extensive experience in international governmental affairs "will be hugely instrumental as IndiGo continues its global expansion", said Managing Director Rahul Bhatia.
Later this year, IndiGo will fly its wet-leased Boeing 787s to Manchester and Amsterdam, marking its entry into long-haul travel.
(Reporting by Ashish Chandra and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +91 7982114624;))
Indigo Adds Special Flights To Srinagar From Delhi And Mumbai With Immediate Effect After Pahalgam Incident
April 23 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - HAS ADDED SPECIAL FLIGHTS TO SRINAGAR FROM DELHI AND MUMBAI WITH IMMEDIATE EFFECT AFTER PAHALGAM INCIDENT
INDIGO - IN VIEW OF EMERGENT SITUATION, HAVE TAKEN STEPS TO KEEP FARES MODERATED
INDIGO - TO SUPPORT THOSE TRAVELING TO/FROM SRINAGAR, INDIGO IS OFFERING WAIVERS FOR CANCELLATION FEES OR RESCHEDULING CHARGES
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
April 23 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - HAS ADDED SPECIAL FLIGHTS TO SRINAGAR FROM DELHI AND MUMBAI WITH IMMEDIATE EFFECT AFTER PAHALGAM INCIDENT
INDIGO - IN VIEW OF EMERGENT SITUATION, HAVE TAKEN STEPS TO KEEP FARES MODERATED
INDIGO - TO SUPPORT THOSE TRAVELING TO/FROM SRINAGAR, INDIGO IS OFFERING WAIVERS FOR CANCELLATION FEES OR RESCHEDULING CHARGES
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
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What does Interglobe Aviation do?
InterGlobe Aviation is engaged in the business of aviation, hospitality, logistics, technology, airline management, advanced pilot training and aircraft maintenance engineering. The company is in the low cost carrier (LCC) segment of the airline industry in India. The principal activities of the company comprise of air transportation which includes passenger and cargo services and providing related allied services including in-flight sales.
Who are the competitors of Interglobe Aviation?
Interglobe Aviation major competitors are SpiceJet, Global Vectra Helico. Market Cap of Interglobe Aviation is ₹2,19,294 Crs. While the median market cap of its peers are ₹2,294 Crs.
Is Interglobe Aviation financially stable compared to its competitors?
Interglobe Aviation seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Interglobe Aviation pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Interglobe Aviation latest dividend payout ratio is 5.32% and 3yr average dividend payout ratio is 5.32%
How has Interglobe Aviation allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments
How strong is Interglobe Aviation balance sheet?
Balance sheet of Interglobe Aviation is moderately strong.
Is the profitablity of Interglobe Aviation improving?
No, profit is decreasing. The profit of Interglobe Aviation is ₹6,706 Crs for TTM, ₹7,258 Crs for Mar 2025 and ₹8,172 Crs for Mar 2024.
Is the debt of Interglobe Aviation increasing or decreasing?
The net debt of Interglobe Aviation is decreasing. Latest net debt of Interglobe Aviation is -₹36,124 Crs as of Mar-25. This is less than Mar-24 when it was -₹31,547.7 Crs.
Is Interglobe Aviation stock expensive?
Interglobe Aviation is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of Interglobe Aviation is 32.7, while 3 year average PE is 11.78. Also latest EV/EBITDA of Interglobe Aviation is 11.15 while 3yr average is 20.98.
Has the share price of Interglobe Aviation grown faster than its competition?
Interglobe Aviation has given better returns compared to its competitors. Interglobe Aviation has grown at ~22.34% over the last 9yrs while peers have grown at a median rate of 2.0%
Is the promoter bullish about Interglobe Aviation?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Interglobe Aviation is 43.54% and last quarter promoter holding is 49.27%
Are mutual funds buying/selling Interglobe Aviation?
The mutual fund holding of Interglobe Aviation is increasing. The current mutual fund holding in Interglobe Aviation is 17.21% while previous quarter holding is 14.19%.