InterGlobe Aviation Limited, doing business as IndiGo, is a low-cost airline headquartered in Gurgaon, Haryana, India. It is the largest airline in India by passengers carried and fleet size, with a 60.5% domestic market share as of March 2024.
It is the largest individual Asian airline, and one of the largest in the world in terms of passengers carried, with more than 100 million passengers carried in 2023. As of April 2024, IndiGo operates over 2,000 daily flights to 122 destinations – 88 domestic and 34 international, with a fleet of over 350 aircraft. It has its primary hub at Indira Gandhi International Airport, Delhi.
Its Rs3200 crore IPO was issued in October 2015, and was oversubscribed 6.15 times but the retail participation was tepid. It made a stellar debut with over 11% premium against the issue price.
The stock, since its listing, has increased by over 360%. In fact, the founders of Indigo, Rahul Bhatia and Rakesh Agarwal, entered the billionaire ranks post IPO.
The share fell consequently for 5 months straight from May 2018, with CEO Aditya Ghosh’s exit triggering the stock initially, followed by hike in jet fuel prices, and data theft accusation aimed at one of its major employees. But it was able to recover just as quickly with robust performance and its established market share.
Similarly, Indigo has been capable of recovering from huge downfalls and still maintained its huge market share. Today, it's on its way to become one of the firms in the duopoly market of aviation.
In December 2023, it surpassed United Airlines to become the sixth largest airline in the world. In April 2024 beginning, the carrier touched an all time high, making it the world’s third largest airline in terms of market capitalization.
It was noted that with IndiGo successfully meeting its FY24 targets across all fronts, the airline is now aiming for early double-digit growth in capacity and passengers for FY25.
