INDIGO

** 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)

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Rewrites throughout with CEO's post-earnings comments

By Hritam Mukherjee

July 30 (Reuters) - Budget airline IndiGo posted slower first-quarter revenue growth on Wednesday, weighed down by subdued demand following border tensions between India and Pakistan and a fatal Air India crash during the quarter.

India's largest carrier by market share reported a 4.7% rise in revenue to 204.96 billion rupees ($2.34 billion) in the April-June quarter, a sharp slowdown from the 17.3% growth logged a year ago.

"The June quarter was shaped by significant external challenges that created headwinds for the entire aviation sector," Chief Executive Pieter Elbers said in a statement.

An April attack on civilians in Indian Kashmir, followed by border clashes between India and Pakistan led to "hundreds and hundreds of cancellations", Elbers said in a post-earnings media call.

India has blamed Islamabad for the attack, which the latter has denied.

Shortly after, an Air India plane crashed in Ahmedabad and killed 260 people in June, spurring flying anxiety among many travellers.

"All in all, that has led ... to (have) some impact on the market," Elbers said, but added that so far, the second quarter appears to be stabilising.

Despite the recent slowdown, IndiGo has benefited from rising incomes, sustained post-pandemic domestic travel demand, along with continued fleet and network expansion.

Still, the company posted a lower quarterly profit, bogged down by ballooning foreign exchange losses. Its yield - the average money earned from a passenger for every kilometre travelled - fell 5%.

The airline's first-quarter capacity - measured in available seat kilometres - grew 16.4% on-year. The firm had projected a "mid-teens percentage range" growth in May.

($1 = 87.4350 Indian rupees)

(Additional reporting by Abhijith Ganaparavam in New Delhi; Editing by Nivedita Bhattacharjee and Sonia Cheema)

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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

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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

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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

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July 4 (Reuters) - Interglobe Aviation Ltd INGL.NS:

• INDIGO- PARTNERED WITH INFINITI SOFTWARE SOLUTIONS

Source text: [ID:]

Further company coverage: INGL.NS

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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

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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)

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** 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)

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

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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

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June 13 (Reuters) - Interglobe Aviation Ltd INGL.NS:

• INTERGLOBE ENTERPRISES MAY SELL APPROX 4% STAKE IN INDIGO VIA BLOCK DEALS - CNBC-TV18 CITING SOURCES

• INTERGLOBE ENTERPRISES LOOKING TO RAISE ABOUT $1 BILLION VIA SHARE SALE IN INDIGO - CNBC-TV18 CITING SOURCES

Source text: [ID:]

Further company coverage: INGL.NS

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By Lisa Barrington, Shivansh Tiwary and Joanna Plucinska

NEW DELHI, June 4 (Reuters) - Proliferating conflict zones are an increasing burden on airline operations and profitability, executives say, as carriers grapple with missiles and drones, airspace closures, location spoofing and the shoot-down of another passenger flight.

Airlines are racking up costs and losing market share from cancelled flights and expensive re-routings, often at short notice. The aviation industry, which prides itself on its safety performance, is investing more in data and security planning.

"Flight planning in this kind of environment is extremely difficult … The airline industry thrives on predictability, and the absence of this will always drive greater cost," said Guy Murray, who leads aviation security at European carrier TUI Airline TUI1n.DE.

With increasing airspace closures around Russia and Ukraine, throughout the Middle East, between India and Pakistan and in parts of Africa, airlines are left with fewer route options.

"Compared to five years ago, more than half of the countries being overflown on a typical Europe-Asia flight would now need to be carefully reviewed before each flight," said Mark Zee, founder of OPSGROUP, a membership-based organisation that shares flight risk information.

The Israeli-Palestinian conflict in the Middle East since October 2023 led to commercial aviation sharing the skies with short-notice barrages of drones and missiles across major flight paths – some of which were reportedly close enough to be seen by pilots and passengers.

Russian airports, including in Moscow, are now regularly shut down for brief periods due to drone activity, while interference with navigation systems, known as GPS spoofing or jamming, is surging around political fault lines worldwide.

When hostilities broke out between India and Pakistan last month, the neighbours blocked each other's aircraft from their respective airspace.

"Airspace should not be used as a retaliatory tool, but it is," Nick Careen, International Air Transport Association (IATA) senior vice president for operations, safety and security, told reporters at the airline body's annual meeting in New Delhi on Tuesday.

Isidre Porqueras, chief operating officer at Indian carrier IndiGo INGL.NS, said the recent diversions were undoing efforts to reduce emissions and increase airline efficiencies.

WORST-CASE SCENARIO

Finances aside, civil aviation's worst-case scenario is a plane being hit, accidentally or intentionally, by weaponry.

In December, an Azerbaijan Airlines flight crashed in Kazakhstan, killing 38 people. The plane was accidentally shot down by Russian air defences, according to Azerbaijan's president and Reuters sources.

In October, a cargo plane was shot down in Sudan, killing five people.

Six commercial aircraft have been shot down, with three near-misses since 2001, according to aviation risk consultancy Osprey Flight Solutions.

Governments need to share information more effectively to keep civil aviation secure as conflict zones proliferate, IATA Director General Willie Walsh said this week.

Safety statistics used by the commercial aviation industry show a steady decline in accidents over the past two decades, but these do not include security-related incidents such as being hit by weaponry.

IATA said in February that accidents and incidents related to conflict zones were a top concern for aviation safety requiring urgent global coordination.

TOUGH CHOICES

Each airline decides where to travel based on a patchwork of government notices, security advisers, and information-sharing between carriers and states, leading to divergent policies.

The closure of Russian airspace to most Western carriers since the outbreak of war in Ukraine in 2022 put them at a cost disadvantage compared to airlines from places like China, India and the Middle East that continue to take shorter northern routes that need less fuel and fewer crew.

Shifting risk calculations mean Singapore Airlines' SIAL.SI flight SQ326 from Singapore to Amsterdam has used three different routes into Europe in just over a year, Flightradar24 tracking data shows.

When reciprocal missile and drone attacks broke out between Iran and Israel in April 2024, it started crossing previously avoided Afghanistan instead of Iran.

Last month, its route shifted again to avoid Pakistan's airspace as conflict escalated between India and Pakistan. Flight SQ326 now reaches Europe via the Persian Gulf and Iraq. Singapore Airlines did not respond immediately to a request for comment.

Pilots and flight attendants are also worried about how the patchwork of shifting risk might impact their safety.

"IATA says airlines should decide if it's safe to fly over conflict zones, not regulators. But history shows commercial pressures can cloud those decisions," said Paul Reuter, vice president of the European Cockpit Association, which represents pilots.

Flight crew typically have the right to refuse a trip due to concerns about airspace, whether over weather or conflict zones, IATA security head Careen said.

"Most airlines, in fact, I would say the vast majority of them, do not want crew on an aircraft if they don't feel comfortable flying," he said.

(Reporting by Lisa Barrington in Seoul, Shivansh Tiwary in New Delhi, Joanna Plucinska in London; Additional reporting by Abhijith Ganapavaram in New Delhi; Editing by Jamie Freed)

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June 2 (Reuters) - Air India Ltd [RIC:RIC:AIRID.UL]:

• INDIA PM MODI: INDIAN CARRIERS HAVE PLACED ORDERS FOR MORE THAN 2000 NEW JETS AND THAT'S JUST A START

Source text: [ID:]

Further company coverage: AIRID.UL

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NEW DELHI, June 1 (Reuters) - India's largest airline IndiGo INGL.NS on Sunday announced an agreement with Air France-KLM AIRF.PA, Virgin Atlantic and Delta DAL.N to expand its long-haul services to North America, Europe and Britain, the airlines said on Sunday.

Indigo has an extensive domestic network in India and is expanding its international reach.

Once the partnership is complete IndiGo will be able to sell flights under its own name on those operated by its partners out of India, and onward travel from Amsterdam and Manchester on select flights to Europe and North America.

IndiGo has an existing relationship with Air France-KLM and Virgin Atlantic, and its Delta partnership is new.

U.S. carrier Delta has not flown to India since the pandemic. CEO Ed Bastian told media at an airline summit in New Delhi that Delta will restart direct services from the United States to India over the next couple of years.

Delta is planning nonstop flights between Atlanta and Delhi, subject to government approval, a joint statement said.

India is the world's third-largest air passenger market, and is rapidly expanding its aviation industry.

(Reporting by Abhijith G; Writing by Lisa Barrington; Editing by Kirsten Donovan)

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May 30 (Reuters) - India Aviation Regulator:

• INDIA AVIATION REGULATOR: INDIGO IS CURRENTLY OPERATING TWO B777-300ER AIRCRAFT UNDER DAMP LEASE FROM TURKISH AIRLINE

• INDIA'S DGCA: INDIGO REQUESTED FOR FURTHER EXTENSION OF DAMP LEASE FROM TURKISH AIRLINE FOR ANOTHER SIX MONTHS, WHICH WAS NOT AGREED TO

• INDIA'S DGCA: TO AVOID PASSENGER INCONVENIENCE, INDIGO HAS BEEN GRANTED ONE-TIME LAST, FINAL EXTENSION FOR 3 MONTHS FOR DAMP LEASED AIRCRAFT

• INDIA'S DGCA: TO AVOID PASSENGER INCONVENIENCE, INDIGO HAS BEEN GRANTED ONE-TIME LAST, FINAL EXTENSION FOR 3 MONTHS FOR DAMP LEASED AIRCRAFT

• INDIA'S DGCA: APPROVAL BASED ON UNDERTAKING FROM INDIGO THAT THEY WILL TERMINATE DAMP LEASE WITH TURKISH AIRLINE WITHIN EXTENSION PERIOD

• INDIA'S DGCA: APPROVAL BASED ON UNDERTAKING FROM INDIGO THAT THEY SHALL NOT SEEK ANY FURTHER EXTENSION FOR DAMP LEASE WITH TURKISH AIRLINE

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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)

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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)

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** 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)

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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

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Repeats Thursday's story with no changes to text

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)

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April 25 (Reuters) - Interglobe Aviation Ltd INGL.NS:

• DUE PAKISTAN AIRSPACE CLOSURE, AROUND 50 INTERNATIONAL ROUTES OPERATED BY INDIGO WILL REQUIRE LONGER SECTORS

• INDIGO - ALMATY AND TASHKENT ARE OUTSIDE THE OPERATIONAL RANGE OF INDIGO’S CURRENT FLEET

• INDIGO - FLIGHTS TO ALMATY STAND CANCELLED FROM 27TH OF APRIL UNTIL AT LEAST 7TH OF MAY
  

Source text: [ID:]

Further company coverage: INGL.NS

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April 24 (Reuters) - Interglobe Aviation Ltd INGL.NS:

• INDIGO - DUE TO SUDDEN ANNOUNCEMENT OF AIR SPACE CLOSURE BY PAKISTAN, FEW OF OUR INTERNATIONAL FLIGHTS ARE IMPACTED

• INDIGO- IF FLIGHT IS IMPACTED, EXPLORE FLEXIBLE REBOOKING OPTIONS, OR CLAIM REFUND

Source text: [ID:]

Further company coverage: INGL.NS

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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

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Adds details on minister meeting in bullets, paragraph 6

By Abhijith Ganapavaram

NEW DELHI, April 21 (Reuters) - The operator of Delhi International Airport, one of the world's busiest airports, has paused works to upgrade one of its runways after passengers criticised lengthy flight delays, throwing the spotlight on increasing air traffic congestion in major cities in India.

Data from Flightradar24 showed about 400 arrivals and 500 departures were delayed on Sunday - about 60% and 76% of total flights, respectively - which Delhi International Airport Limited (DIAL) said was in part due to adverse wind patterns.

DIAL, which is majority owned by GMR Airports GMRI.NS, had shut one of its runways earlier this month to upgrade a system that helps aircraft land safely in low-visibility conditions. The airport has four runways in total.

DIAL will now resume operations on the runway in the first week of May after postponing remaining upgrade activities "for a month or so," it said in a post on X early on Monday. The upgrade works had come ahead of the busy summer travel season in India.

Passengers on social media complained of flights being delayed for hours on Sunday, both in the ground and in the air, raising concerns about stress on pilots.

India's civil aviation minister Ram Mohan Naidu on Monday chaired a meeting attended by government, airport and airline officials to address challenges being faced by Delhi International Airport, according to a government statement.

DIAL has pushed back against criticism in a series of X posts, saying plans for runway upgrades were done in consultation with airlines and other stakeholders over four months ago. It said adverse wind conditions had also played a role in the delays.

"When these easterly wind situations have been arising in the past few days...airlines have been advised, in accordance with pre-agreed plans, to adjust flight schedules. However, there was minimal to no changes made," DIAL said.

Delhi airport handled about 78 million passengers in 2024, making it the ninth busiest airport in the world, according to Airports Council International, as air travel booms in India post the pandemic.

To handle the surge in air travel, government authorities have planned for second airports that would serve congested cities such as Mumbai and Delhi. More airports would also accommodate the hundreds of aircraft ordered by domestic airlines IndiGo and Air India Group.

(Reporting by Abhijith Ganapavaram; Editing by Raju Gopalakrishnan and Daren Butler)

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** Shares of IndiGo airline operator Interglobe Aviation Ltd INGL.NS rise as much as 3.8% to record high of 5,347 rupees

** Motilal Oswal upgrades India's top airline by market share to "buy" from "neutral," citing stock as "best domestic consumption play"

** Believes that "benign Brent crude prices amid the ongoing geopolitical turmoil and favorable domestic demand bode well for the company"

** Softer crude prices will help IndiGo as aircraft fuel accounts for about 40% of its total expenses- Motilal Oswal

** Brokerage raises PT to Street-high of 6,550 rupees, from 4,660 rupees

** 17 of the 20 analysts covering the stock have a "buy" or "strong buy" rating; median PT is 5,600 rupees, per data compiled by LSEG

** Stock up close to 16% YTD up to last close

(Reporting by Nandan Mandayam and Shivani Tanna in Bengaluru)

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Updates with background

By Abhijith Ganapavaram

NEW DELHI, April 14 (Reuters) - India and China have held one round of talks on resuming direct passenger air services, but no dates have been fixed yet, New Delhi said on Monday, as relations continued to thaw five years after a deadly border clash.

The neighbours agreed in January to work on resolving trade and economic differences, in a move expected to boost their aviation sectors, particularly China's which has lagged other countries' in rebounding from the COVID pandemic.

"The civil aviation ministry and our counterpart in China have had one round of meetings," Civil Aviation Secretary Vumlunmang Vualnam said at a conference organised by the Indian Chamber of Commerce in New Delhi.

There were still some issues to resolve, he added, without going into detail.

Relations soured between India and China in the wake of the 2020 clash between troops along their border in the Himalayas, which killed at least 20 Indian soldiers and four Chinese.

India imposed restrictions on Chinese companies investing in the country, banned hundreds of popular apps and cut passenger routes, although direct cargo flights continued.

Relations have improved since an agreement in October to ease a military standoff on the mountainous border, the same month that President Xi Jinping and Indian Prime Minister Narendra Modi held talks in Russia.

(Reporting by Abhijith Ganapavaram, writing by Shilpa Jamkhandikar; editing by Sudipto Ganguly and Andrew Heavens)

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** Shares of InterGlobe Aviation (IndiGo) INGL.NS rise 3.6% to 5,166.15 rupees after upbeat views from Jefferies and Morgan Stanley

** Morgan Stanley expects strong Q4 results driven by global expansion and lower fuel prices

** Maintains an "overweight" rating and sees a 22% upside over the next 12 months

** Says IndiGo is well placed to benefit from India’s outbound travel boom

** Jefferies also reiterates "buy" and forecasts a 27% year-on-year jump in Q4 profit

** Falling crude prices and a stronger rupee add to tailwinds for the airline, says Jefferies

** Names IndiGo as its top pick in Indian travel sector

** Average rating of 19 analysts tracking INGL is "buy", median price target is 5475 rupees, according to data compiled by LSEG

** INGL shares up 9.5% in 2025 so far, beating Nifty Next 50's .NN50 10.4% drop

(Reporting by Bharath Rajeswaran in Bengaluru)

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By Abhijith Ganapavaram

NEW DELHI, April 3 (Reuters) - India's parliament on Thursday passed a landmark aviation bill that will make it easier for global aircraft leasing companies to repossess jets and engines when a carrier defaults on its payments, a big win for international lessors in a key market.

India's "Protection of Interests in Aircraft Objects" bill will fully implement the Cape Town Convention and Protocol, an international agreement on asset-based financing.

The issue has been in focus since 2023 when lessors like SMBC Aviation couldn't repossess aircraft from India's Go First after it filed for bankruptcy.

In that dispute, India's local laws superseded global aircraft leasing rules. But the new bill changes that, bringing relief to lessors in the world's fastest-growing aviation market.

Parliament approved the bill on Thursday and India's president will need to sign it into law, which is seen as a formality.

"The legislation will improve lessors' confidence in the Indian market and may also make it easier for upcoming airlines to lease aircraft," said Lovejeet Singh, a partner at law firm Chandhiok & Mahajan who specialises in aviation laws.

It will bring down the cost of leasing, which may translate into cheaper airfares, he added.

In the Go First saga, lessors ran into difficulties in repossessing over 50 Airbus aircraft, calling India a "risky jurisdiction" for aircraft leasing.

The country's carriers, led by biggest player IndiGo, have placed orders for over 1,300 Boeing and Airbus aircraft since 2022, aiming to take advantage of a boom in air travel.

India's aviation minister this week said the legislation was a "key step in making aircraft leasing cheaper, benefiting airlines and passengers alike".

The majority of aircraft operated by Indian carriers are on lease, either under simple leases or sale-and-leaseback agreements.

(Reporting by Abhijith Ganapavaram. Additional reporting by Nigam Prusty and Tanvi Mehta. Editing by Aditya Kalra and Mark Potter)

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** Shares of airline operator InterGlobe Aviation INGL.NS drop 2.4% to 4,994.65 rupees

** India's income tax authority imposes 9.44 bln rupees ($110.4 mln) penalty for assessment year 2021-2022

** INGL says penalty is erroneous, will take legal remedies

** INGL shares are up nearly 10% in 2025, while the Nifty Next 50 .NN50 is down 8.5%

($1 = 85.5370 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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