Citi has maintained a ‘buy’ rating on InterGlobe Aviation (IndiGo), with a target price of ₹5,200 per share, implying a 9.1% upside from the current market price (CMP) of ₹4,765.00.
The brokerage highlighted IndiGo’s expansion into long-haul routes, with the airline announcing non-stop flights to Manchester and Amsterdam. Additionally, IndiGo has entered into a damp lease agreement with Norse Atlantic Airways for a Boeing 787-9 aircraft, which was inducted into operations on March 1, 2025.
The agreement has been expanded to include three additional aircraft, scheduled to join IndiGo’s fleet in H2CY25, to support long-haul international expansion until deliveries of Airbus A321 XLR and A350-900 aircraft begin in 2027.
Over the past two years, IndiGo has strengthened its European network through codeshare partnerships, enhancing connectivity between key European cities and India.
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