With Go First gone and bitterness between SpiceJet and its lessors, IndiGo remains one of the two stable airlines in the Indian airspace, as Air India works on its comeback. Although IndiGo is also hit by the delay in delivery of engines, which spelled doom for Go First, it isn't holding back as it continues to control more than 56 per cent market share.
As demand for air travel in India rises consistently, it has propelled IndiGo past a Rs 1 lakh crore market cap.
IndiGo has also become the first Indian aviation firm to ever scale such heights in term of valuation.
The stocks of the airline have skyrocketed with a 29 per cent gain this year alone, thanks to feats such as a historic 500 aircraft order placed with Airbus.
With this, IndiGo has also found a place among the top 10 most valuable airlines across the globe.
On one side, IndiGo has room to increase its market share by filling the void left by Go First, and its aircraft deal has also managed to steal the thunder from Air India's purchase.
28/06/2023 Free Press Journal
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