IndiGo, SpiceJet shares surge up to 6% as govt cuts ATF price
The ATF price has been reduced by almost ₹6,000 per kilolitre for the second month in a row in October.
The ATF price has been reduced by almost ₹6,000 per kilolitre for the second month in a row in October.
Ticket bookings for IndiGo's business service ‘Stretch’ will open for sale from August 6, 2024, on the Delhi-Mumbai sector, starting from mid-November at a price of ₹18,018.
IndiGo's total expenses jumped 24% to ₹17,449 crore in the June quarter, with aircraft fuel expenses at ₹6,416 crore, up 22.7% compared to ₹5,228 crore in the year-ago period.
Rahul Bhatia, the promoter and managing director of IndiGo, is looking to sell around 2% stake in the company through his entity Interglobe Enterprises.
The airline has purchase rights for an additional 70 Airbus A350 Family aircraft “for possible future needs under certain conditions”.
IndiGo, which cornered over 60% of the domestic market share, is expecting early double-digit growth in its capacity in the next fiscal.
The low-cost carrier expects the addition of more than one aircraft per week and an additional 10 destinations.
The airline will operate between Ahmedabad-Rajkot, Ahmedabad-Aurangabad, Bhopal-Lucknow, and Indore-Varanasi from March 31.
IndiGo shares surge as much as 5.6% to hit a new all-time high of ₹3,301.40 today; the aviation stock has rallied 15% in the last six sessions.