Indian airlines have been hitting headlines for the past few weeks due to a hoax bomb threat. However, an Indian airline was news in the news after it lost Rs 13,481.88 crore. Shares of IndiGo Airlines, run by Interglobe Aviation, on Monday, ended 8 per cent lower after the company posted a net loss of Rs 986.7 crore in the September quarter on headwinds from the grounding of planes and higher fuel costs.
One of the world's most valuable airlines by market cap, its stock plunged 8 per cent to close at Rs 4,015.50 apiece on the BSE. During the day, it tanked 13.42 per cent to Rs 3,778.50. On the NSE, shares of the firm slumped 8 per cent to Rs 4,015. Intra-day, the stock plummeted 13.42 per cent to Rs 3,780. The company's market capitalisation (mcap) eroded by Rs 13,481.88 crore to Rs 1,55,107.61 crore.
In volume terms, 1.97 lakh shares of the firm were traded on the BSE and 91.39 lakh shares on the NSE during the day. The country's largest airline IndiGo on Friday posted a net loss of Rs 986.7 crore in the September quarter on headwinds from grounding of planes and higher fuel costs.
IndiGo, which also became India's first airline to have more than 400 aircraft, said the number of grounded aircraft has reduced to the high 60s from mid 70s and will further come down to the sub-60 level by the year-end. At the end of September, the carrier had a fleet of 410 planes.
(With inputs from PTI)
