IndiGo Becomes India’s First Airline to Exceed 1 Lakh Crore Market Cap

Written by Sanjay Kumar

News highlights

• IndiGo’s parent company, InterGlobe Aviation, surpasses Rs 1 trillion market capitalization, a first for an Indian aviation firm.
• IndiGo’s shares soar by 30% this year, reaching a record high of Rs 2,618.10 per share on the BSE.
• IndiGo makes history with a $50 billion order for 500 Airbus Neo family aircraft, the largest-ever single purchase in aviation.

IndiGo

Airline

• Bag information: In economy, within India, 15kg free. To other destinations, 20kg free, additional allowance depending on route. More IndiGo bag information
• Hubs: Indira Gandhi International Airport, MORE
• Founders: Rahul Bhatia, Rakesh Gangwal
• Headquarters: Gurugram
• Founded: August 2006
• Destinations: 101

InterGlobe Aviation Ltd, the parent company of budget Airline IndiGo, has achieved a significant milestone by becoming the first aviation company in India to surpass a market capitalization of Rs 1 trillion. The company’s shares have experienced a remarkable increase of approximately 30% this year, reaching a close record high of Rs 2,618.10 per share on the BSE (Bombay Stock Exchange) on Wednesday (June 28).

IndiGo’s shares witnessed a 3.48% surge on the BSE, culminating in a record closing high of Rs 2,618.10 on Wednesday. Consequently, its total market capitalization reached Rs 1,00,940.09 crore. Throughout the day, the company’s shares also reached an all-time high of Rs 2,634.25.

The surge in IndiGo’s shares can be attributed to the positive market outlook following the insolvency of Go Air, as investors anticipate an increase in IndiGo’s market share. Among the top ten listed aviation firms worldwide, IndiGo currently ranks 10th in terms of market value. Delta Airlines Inc holds the position of the world’s largest airline by value, with a market capitalization of $29.62 billion, followed by South West Airlines Co and Ryanair Holdings PLC. United Airlines Holdings PLC claims the fourth spot, succeeded by Air China, Singapore Airlines, China Southern Airlines, China Eastern Airlines Co, and Deutsche Lufthansa.

In a recent development on June 19, IndiGo made a groundbreaking announcement of ordering 500 Airbus Neo family aircraft, set to be delivered between 2030 and 2035. This deal, valued at $50 billion based on list prices, stands as the largest single purchase agreement in the history of aviation.

The momentous order was unveiled at the Paris Air Show 2023 on Monday, surpassing Air India’s order of 470 aircraft placed in March. IndiGo stated, “This 500 aircraft order is not only IndiGo’s largest order but also the largest-ever single aircraft purchase by any airline with Airbus. The engine selection for this order will be done in due course, as well as determining the exact mix of A320 and A321 aircraft.”

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The post IndiGo Becomes India’s First Airline to Exceed ₹1 Lakh Crore Market Cap first appeared on Business Connect | Best Business magazine In India.