IndiGo stock price up by more than 3% today

26 Apr 2024 , 01:01 PM

Interglobe Aviation, the operator of IndiGo Airlines, experienced a surge of over 3% in its stock price, today. It reached a new 52-week high of ₹3,598 after announcing an order for 30 Firm A350-900 aircraft from Airbus, aimed at expanding its network.

IndiGo presently boasts a fleet of more than 350 aircraft and made headlines in June 2023 by securing the largest single aircraft order in industry history, acquiring 500 aircraft from Airbus, including A320NEO, A321NEO, and A321XLR models.

The exact configuration of the newly ordered aircraft will be determined later, with deliveries expected to commence from 2027, as per the company’s regulatory filing. Additionally, IndiGo holds Purchase Rights for an extra 70 Airbus A350 Family aircraft for potential future requirements.

On April 10, the airline achieved the status of the world’s third-largest airline by market capitalization, surpassing United Airlines in December 2023 to claim the sixth spot globally. Delta Air and Ryanair Holdings hold the top two positions with market caps of $30.4 billion and $26.5 billion, respectively.

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