Interglobe Aviation Ltd(INDIGO)

NSE: INDIGOBSE: 539448

₹ 4,572+0.77%refreshed 26 Oct, 10:14 am ISTMarket cap: ₹ 1.77 L crNext results: 29 Oct 2026Website: www.goindigo.inUpdated: 24 Oct 2026

About

IndiGo (InterGlobe Aviation) is India's largest airline and the world's 8th largest by daily departures, operating more than 7.85 lakh flights annually with over 60% domestic market share. In FY26 it carried more than 123 million passengers across a fleet of 441 aircraft. Reported FY26 revenue was Rs 84,961.9 Cr. Backed by an order book exceeding 900 aircraft, it is expanding into long-haul international markets including Europe.^[1][2]

Business segments

International ASK share reached approximately 33% by Q1 FY27, up from ~30% in Q2 FY26, with a target of ~40% by FY30.^[3]

Network and fleet

Fleet stood at 432 aircraft at end of Q1 FY27, down from 441 at end of FY26 after redelivery of 13 damp-leased aircraft; only 7 damp leases remained at June 2026.^[3]
IndiGo served 97 domestic and 46 international destinations as of Q1 FY27, adding 6 domestic and 7 international destinations net year-on-year.^[3]
IndiGo was the largest global recipient of aircraft deliveries for two consecutive years, CY2024 and CY2025.^[1]
IndiGo operated up to 6 Boeing 787 widebodies on damp lease in FY26, serving Amsterdam, Manchester, Copenhagen and London Heathrow.^[4]
IndiGo inducted India's first Airbus A321 XLR in FY26, deploying it on Athens and Istanbul routes; 9 more XLR deliveries are expected in FY27.^[5]

Products and fare framework

'6E Ways to Fly', introduced in FY26, offers five propositions: Saver, Flexi, UpFront, IndiGoStretch and IndiGoStretch+.^[1]
IndiGoStretch dual-class cabin (12 Stretch + 183 economy seats) operates on 8 domestic and 9 international routes; planned to expand to 50 A321 aircraft by March 2027 and 65 total.^[6]
A 'Lite Fare' option for passengers without check-in baggage was introduced in Q1 FY27.^[3]

Key operating numbers

Q1 FY27: ASK 43.5 bn (+2.9% YoY), RPK 36.2 bn (+1.4% YoY), load factor 83.3% (-1.3 pts YoY).^[3]
Q1 FY27 yield rose 21.3% YoY to INR 6.04; PRASK up 19% YoY to INR 5.03.^[3]
Q1 FY27 CASK was INR 5.71 (+32.6% YoY); CASK ex-fuel ex-forex INR 3.20 (+10.7% YoY).^[3]
FY26: ASK 172.4 bn (+9.5% YoY), RPK 145.5 bn (+7.5% YoY), load factor 84.4% (-1.6 pts YoY), yield INR 5.06 (-1.7% YoY).^[5]
On-time performance averaged 81.3% at DGCA metro airports in FY26, ranking first among Indian airlines for 10 of 12 months.^[1]
Industry domestic passenger traffic grew 1.1% against seat growth of 2.6% in FY26.^[1]

Loyalty and distribution

BluChip loyalty programme reached approximately 11 million members as of 31 March 2026, up from 7 million in Q2 FY26.^[1]
Co-branded credit cards launched in Q2 FY26 with Kotak Mahindra Bank, IDFC First Bank and SBI Cards.^[4]
A partnership with Accor's ALL loyalty platform went live in Q1 FY27.^[3]
First airline in India to achieve Level 4 IATA Airline Retailing Maturity Index certification under NDC standards in FY26.^[1]

Expansion and capex

Order book exceeds 900 aircraft including A321 XLRs and A350s, supporting a FY30 target of approximately 550+ aircraft and ~300 bn ASK.^[1]
A350 widebody order doubled from 30 to 60 aircraft; deliveries expected from 2028.^[4]
12-bay MRO facility under construction in Bengaluru, with approximately INR 1,000 crore over 3-4 years.^[4]
MoU signed with CFM International in Q1 FY27 covering over 1,000 LEAP-1A engines for future deliveries.^[3]
Prepaid loans for 17 aircraft in FY26, bringing owned unencumbered aircraft to 36 with book value above INR 95 bn; 53 more on finance leases.^[5]
Target of 30-40% of fleet on balance sheet (owned or finance-leased) by FY30.^[4]
GIFT City entity funded with USD 820 mn for aviation asset acquisition.^[5]

Recent developments

CEO Pieter Elbers stepped down on 10 March 2026; William Walsh was appointed and is expected to assume office on or before 3 August 2026.^[1][5]
The CCI directed its Director General to investigate IndiGo's domestic operations after the December 2025 cancellations.^[1]
A 3-5 December 2025 disruption caused more than 2,500 cancellations and an exceptional provision of INR 5.8 bn.^[6]
FDTL Phase II crew rostering rules contributed to delays and cancellations in the FY26 peak period.^[1]
Middle East conflict in Q4 FY26 cut daily departures to the region from ~150 to 20-30 at peak; recovered to ~90-95% by end of June 2026.^[3]
First airline to begin operations at Navi Mumbai International Airport on 25 December 2025 and at Jewar (Noida International) airport in Q1 FY27.^[6][3]
First airline in India to receive Part 21 approval in FY26, enabling in-house production of select non-structural cabin parts.^[1]

Market Cap

₹1,76,784 Cr

High / Low

₹5,959 / 3,895

Stock P/E

-36.5

Price / Book

25.2

Book Value

₹180

EPS

₹-61.9

No. of Shares

38.66 Cr

ROCE

6.5%

ROE

-29.3%

OPM

6.4%

Debt / Equity

0.26

Sales

₹84,962 Cr

Net Profit

₹-2,394 Cr

Promoter holding

41.6%

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