IndiGo, India’s largest airline, has elevated its position to become the sixth-largest airline, surpassing United Airlines. This development comes six months after IndiGo initially secured a spot in the world’s top 10 airlines.
As of the market close on Wednesday, December 13, InterGlobe Aviation, the parent company of IndiGo, boasts a market valuation of $13.8 billion. This figure places it approximately $310 million ahead of United Airlines, according to the data.
IndiGo’s market valuation has witnessed a three-fold surge since its listing, in stark contrast to United Airlines, which faced a decline of approximately $10 billion over the same timeframe.
On Wednesday, InterGlobe Aviation shares surpassed the ₹3000 mark for the first time, marking their longest winning streak since the company went public in 2015. The stock has been on an upward trajectory for the 12th consecutive session, accumulating a cumulative return of 16% since the streak commenced on November 28.
This impressive performance is noteworthy, given that there was only one similar rally lasting for 11 days, starting from August 23, 2021, since IndiGo’s listing in 2015. However, the previous rally yielded a higher return of 19% compared to the current streak.
IndiGo’s strategic positioning in the market, coupled with its gaining market share in the absence of Go First, has garnered positive attention. The airline surprised analysts by reporting a net profit in the September quarter, further contributing to its robust market performance.
