IndiGo Leads The Way: First Indian Airline To Achieve Rs 1 Trillion Market Cap
New Delhi, 28th June 2023: IndiGo, a no-frills airline owned by InterGlobe Aviation Ltd, has achieved a significant milestone in the Indian aviation industry. It has become the first company to surpass a market capitalization of Rs 1 trillion. This achievement is attributed to a remarkable increase in the company’s share value, which has risen by approximately 30 percent this year. On Wednesday, the shares reached a record high of Rs 2,618.10 per share on the Bombay Stock Exchange (BSE).
On the BSE, IndiGo’s shares closed at an all-time high of Rs 2,618.10, marking a 3.48 percent increase. As a result, the company’s total market capitalization reached Rs 1,00,940.09 crore. Throughout the day, the share value also reached its peak of Rs 2,634.25.
IndiGo’s shares have experienced a surge following Go Air’s insolvency, as investors anticipate the company’s expanding market share. Among the world’s top 10 listed aviation firms, IndiGo currently ranks 10th in terms of market value. The world’s largest airline by value is Delta Airlines Inc, with a market capitalization of $29.62 billion, followed by South West Airlines Co and Ryanair Holdings PLC. United Airlines Holdings PLC occupies the fourth position, trailed by Air China, Singapore Airlines, China Southern Airlines, China Eastern Airlines Co, and Deutsche Lufthansa.
In a recent development on June 19, IndiGo made a significant announcement regarding its future growth. The company revealed a colossal order for 500 Airbus Neo family aircraft, scheduled for delivery between 2030 and 2035. This purchase agreement, valued at $50 billion at list prices, represents the largest single order in the history of aviation. The announcement was made during the Paris Air Show 2023, surpassing Air India’s order of 470 aircraft placed in March. IndiGo’s recent declaration reveals that their purchase of 500 aircraft sets a new record for the airline, constituting their largest order ever.
Furthermore, this collaboration with Airbus marks an unprecedented milestone as any airline’s most substantial single aircraft acquisition. The specific combination of A320 and A321 aircraft and the engine selection will be finalized in due course.
