IndiGo has ascended to the sixth position in global airline market capitalization, boasting a valuation of $13.80 billion. The surge propelled IndiGo beyond United Airlines, now standing at $13.48 billion, securing a prominent position after InterGlobe Aviation shares closed 1.73 percent higher at Rs 2,982.50 on the BSE. Delta Air Lines leads the pack with a market cap of $26.54 billion.
InterGlobe Aviation shares surpassed the Rs 3,000 mark for the first time, marking an impressive winning streak, stretching across 12 consecutive sessions. This remarkable performance, the longest since its 2015 debut in the public domain, has translated to a 16 percent return since November 28. Year-to-date, the stock has soared over 49 percent.
IndiGo’s market valuation has witnessed a three-fold increase since its listing, while United Airlines faced a substantial $10-billion erosion during the same period. The budget carrier’s expanded market share, especially after Go First’s grounding, contributed to its remarkable financial standing. IndiGo pleasantly surprised the market with a net profit in the September quarter, defying the Bloomberg consensus estimate of a Rs 755-crore net loss. Analysts maintain caution, citing challenges such as aircraft groundings and escalating lease expenses.
