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    INDIGO   INE646L01027

INTERGLOBE AVIATION LIMITED

(INDIGO)
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Delayed NSE India Stock Exchange  -  07:25 2022-09-29 am EDT
1827.30 INR   +0.42%
09/07InterGlobe Aviation Co-Founder, Family to Sell 2.8% Stake Via Block Deal
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09/06InterGlobe Aviation Names New CEO
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09/06Interglobe Aviation Limited Appoints Petrus Johannes Theodorus Elbers as Chief Executive Officer
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India's newest budget carrier Akasa begins commercial operations

08/07/2022 | 07:52am EDT
Rakesh Jhunjhunwala, Partner, Rare Enterprises, poses after an interview with Reuters in Mumbai

MUMBAI (Reuters) - India's newest budget carrier Akasa Air, which is backed by billionaire Rakesh Jhunjhunwala, began commercial operations on Sunday with a maiden flight from the financial capital of Mumbai to the city of Ahmedabad.

Starting from Sunday, Akasa Air will operate weekly flights from Mumbai to Ahmedabad, a commercial hub in the neighbouring state of Gujarat, the company said in a statement.

"We want to serve our country by creating strong transportation links which are the underpinning of any economic growth engine" Vinay Dube, founder and CEO of the airline said in the statement.

Jhunjhunwala, known as "India's Warren Buffett", has teamed up with ex-Jet Airways CEO Dube and former IndiGo head Aditya Ghosh to set up Akasa.

Akasa, which has a total of 72 Boeing planes on order, will compete directly with other budget carriers like IndiGo, SpiceJet and GoFirst.

Domestic air travel in India has made a sharp recovery this year with airlines flying over 57 million passengers in the first half, up 238% from last year, government data showed.

(Reporting by Shilpa Jamkhandikar in Mumbai and Aditi Shah in New Delhi; Editing by Hugh Lawson)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
INTERGLOBE AVIATION LIMITED 0.42% 1827.3 Delayed Quote.-9.81%
SPICEJET LIMITED -1.72% 37.05 End-of-day quote.-45.59%
THE BOEING COMPANY -6.08% 125.33 Delayed Quote.-36.66%
All news about INTERGLOBE AVIATION LIMITED
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Analyst Recommendations on INTERGLOBE AVIATION LIMITED
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Financials
Sales 2023 506 B 6 203 M 6 203 M
Net income 2023 775 M 9,49 M 9,49 M
Net Debt 2023 24 576 M 301 M 301 M
P/E ratio 2023 907x
Yield 2023 -
Capitalization 704 B 8 628 M 8 628 M
EV / Sales 2023 1,44x
EV / Sales 2024 1,34x
Nbr of Employees 26 164
Free-Float 25,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 1 827,30 INR
Average target price 2 182,64 INR
Spread / Average Target 19,4%
EPS Revisions
Managers and Directors
Peter T. M. Elbers Chief Executive Officer
Wolfgang Prock Schauer President & Chief Operating Officer
Venkataramani Sumantran Chairman
Sanjay Y. Gupta Secretary & Chief Compliance Officer
Pallavi Shardul Shroff Independent Non-Executive Director
Sector and Competitors