Axis Direct's research report on InterGlobe Aviation
On DGCA’s order, InterGlobe Aviation (Indigo) has grounded 8 A320 neo aircrafts (with engine serial number of beyond 450) until further notice (Go Air also to ground 3 aircrafts). Aircrafts with these engines have faced mid-air engine failure and, DGCA has asked Indigo (and Go Air) not to refit these engines, which are spare in their inventory.
Outlook
We continue to believe Indigo, being the largest domestic airline (~40% market share) and one of the most efficient operators globally, is best placed to capitalize on strong domestic traffic growth (~17% YoY). Maintain BUY.For all recommendations report, click here
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