Indigo inks Codeshare agreement with Turkish Airlines; shares gain 1%

The effectiveness of the agreement is subject to the approval of all necessary board and regulatory.

Dec 24, 2018 03:12 IST India Infoline News Service

Shares of InterGlobe Aviation (Indigo) climbed 1% in the morning session on Monday after the company signed a codeshare and mutual cooperation agreement with Turkish Airlines.

The effectiveness of the agreement is subject to the approval of all necessary Board and regulatory, the company said in a press note after the market to the exchanges on Friday.

Further, the agreement will enable both carriers to provide more flexibility of choice to their respective customers to fly on sectors between India, Istanbul and beyond, the company added.

This is the first codeshare agreement for lndiGo as part of its international expansion strategy. "Through this cooperation, Turkish Airlines will be offering new destinations in India as Marketing Carrier on lndiGo operated flights, while lndiGo customers will be able to reach many European destinations through Turkish Airlines' extensive network," the company added.

Interglobe Aviation Ltd's share price is currently trading at Rs1,158, up by Rs4.55 or 0.39% from its previous close of Rs1,153.45 on the BSE.

The scrip opened at Rs1,150 and has touched a high and low of Rs1,165 and Rs1,150, respectively. So far, 87,177 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs44,339.41cr.

Related Story