seen from France
seen from China
seen from Türkiye
seen from India
seen from Germany
seen from China
seen from Russia
seen from United States
seen from United States
seen from China
seen from United States
seen from Australia
seen from China
seen from China
seen from China
seen from United States
seen from United States
seen from China
seen from United States
seen from United Kingdom
IndiGo shares drop 5% on 500+ flight cancellations; SpiceJet slides 8%
https://img.etimg.com/thumb/msid-129016273,width-1200,height-630,imgsize-11022,overlay-etmarkets/articleshow.jpg Shares of India’s largest airline, InterGlobe Aviation, fell 5% to a day’s low of Rs 4,293 on the NSE on Wednesday, as the Iran-Israel conflict intensified. The decline in IndiGo shares reflects concerns over potential revenue losses amid the geopolitical tension. SpiceJet was hit…
Gangwals stake sale: Gangwals to sell 3.1% in IndiGo parent via Rs 7,020-crore block deals
https://img.etimg.com/thumb/msid-123535072,width-1200,height-630,imgsize-333798,overlay-etmarkets/articleshow.jpg Mumbai: The family of IndiGo co-founder Rakesh Gangwal is set to offload a 3.1% stake in InterGlobe Aviation through block deals worth about $801 million (₹7,020 crore). The shares are being offered at a price of ₹5,808 apiece, about 4% below the current market price, people…
IndiGo Faces ₹944 Crore Tax Penalty
Aakhir Tak – In Shorts IndiGo faces a ₹944 crore tax penalty from the Income Tax Department. The company has called the penalty “erroneous and frivolous”. IndiGo plans to legally challenge the order. The company says the order won’t impact its operations and financials. Promoters held a 49.27% stake in IndiGo as of December 2024. Aakhir Tak – In Depth Budget carrier IndiGo‘s parent…
Aviation stocks: SpiceJet tumbles 7%; IndiGo tanks over 5% over ATF rise
Shares of aviation firms SpiceJet and InterGlobe Aviation came under heavy selling on Thursday after ATF prices were raised to a record high.
The stock of SpiceJet tanked 7.05 per cent to settle at Rs 40.90 apiece on the BSE. During the day, it tumbled 8.29 per cent to its one-year low of Rs 40.35.
InterGlobe Aviation, parent firm of IndiGo, fell by 5.22 per cent to Rs 1,644.65 apiece. During the day, the stock declined 5.83 per cent to Rs 1,634.
On Thursday, Jet fuel prices were hiked by the steepest-ever 16 per cent to catapult rates to an all-time high in step with hardening international oil rates.
The sharp increase in aviation turbine fuel prices and depreciation of the rupee have left the domestic airlines with no choice but to immediately raise airfares, said Ajay Singh, Chairman and Managing Director, SpiceJet, on Thursday.
IndiGo Q4 results: Loss widens to Rs 1,682 cr on higher fuel costs
InterGlobe Aviation, which operates flights under IndiGo brand, on Wednesday reported that its consolidated loss widened to Rs 1,682 crore for the quarter ending March 31, 2022 as higher fuel costs more than offset a rebound in demand for air travel. It reported consolidated loss of Rs 1,147 crore in the year-ago period when a raging pandemic kept people at home. Fuel prices in Q4 of 2021-22 increased by 61% compared to the same period last year, the airline said.
However, the resurgence in air travel demand helped the company's consolidated revenue from operations jump 29% to Rs 8,021 crore in Q4FY22 as against Rs 6,223 crore in Q4FY21.
On Wednesday, IndiGo's scrip on BSE closed 2% lower at Rs 1,648.
After two years of pandemic-curtailed travel, airlines globally have made a comeback in recent months riding on a wave of pent-up demand that has encouraged them to bump up capacity.
But the industry's recovery faces risks from a surge in global jet fuel prices, which neared 14-year highs in the quarter after the Russian invasion of Ukraine.
"Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee," IndiGo CEO Ronojoy Dutta said in a statement.
