IndiGo becomes the most valuable airline in the world as m-cap crosses Rs 2 lakh crore

IndiGo commands over 60 percent of India’s domestic aviation market and has sharpened its focus on international expansion.

IndiGo, India’s dominant low-cost carrier, made it to the history books this week, briefly overtaking global heavyweights like Delta Air Lines and Ryanair to become the world’s most valuable airline by market capitalisation.

The stock’s impressive run this year—up 13 percent so far—has propelled its valuation to over Rs 2 lakh crore ($23.3 billion). The stock closed almost a percent higher in today's session. That rally stands in contrast to a broader market slide, with the Nifty down nearly 6 percent year-to-date as tariff uncertainty rattle sentiment.

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IndiGo commands over 60 percent of India’s domestic aviation market and has laid emphasis on international expansion. The carrier recently told analysts it expects overseas operations to contribute 40 percent to its available seat kilometers (ASK) by FY30, compared to an estimated 28 percent in FY25.

The airline plans to add about 50 aircraft in FY26 to its current fleet of 439, of which 50 are grounded. Management has guided for early double-digit ASK growth in the coming fiscal year.

IndiGo parent InterGlobe Aviation Ltd reported a net profit of Rs 2,449 crore for Q3 FY25, falling as much as 18 percent from Rs 2,998 crore a year ago, despite continued demand for air travel. The robust profit in the base quarter was due to the major festival season travel falling during the October-December quarter in the previous year, unlike this year.

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InterGlobe Aviation's revenue for the fiscal third quarter surged 14 percent to Rs 22,111 crore against Rs 19,452 crore in the same period previous year, driven by a 12 percent increase in available seat kilometres (ASK) and a 13.5 percent rise in revenue passenger kilometres (RPK). The load factor improved by 1.2 percentage points to 86.9 percen.