ICICI Securities research report on InterGlobe Aviation
We have been positive on InterGlobe Aviation (IndiGo) led by favourable demand-supply equation and its strong position (balance sheet, market share, management strength and orderbook). The company, in its recent analyst meet (on 22 Mar’24), reaffirmed its three principle strategic pillars: (1) Reassure (on time performance, affordable fares, courteous & hassle-free service and unparalleled network), (2) Develop (digitalisation, invest in human capital and scale infrastructure) and (3) Create (internationalisation and new initiatives which will be enablers of core business).
Outlook
The management reiterated its strong aviation prospect for India in the near term led by current low penetration and improvement in airport infrastructure, development of aircraft financing hub in Gift City and adequate human capital available in the country. Maintain BUY.
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