IndiGo, the largest airline in India, has ascended to the sixth position among the world's largest airlines, surpassing United Airlines (UA) The post IndiGo Beats United Airlines in Market Cap to Become Sixth Largest in the World appeared first...
GURGAON- IndiGo (6E), the largest airline in India, has ascended to the sixth position among the world’s largest airlines, surpassing United Airlines (UA). This milestone comes half a year after IndiGo initially secured a position in the top 10 global airlines.
At the market close on Wednesday, December 13, the parent company of IndiGo, InterGlobe Aviation, holds a market valuation of $13.8 billion. According to the available data, this places it roughly $310 million ahead of United Airlines.
Photo: Shrey Chopra (Captchops)
IndiGo Beats United Airlines
Significantly, in 2023, IndiGo’s stocks demonstrated an impressive growth of nearly 50%, while United Airlines, headquartered in Chicago, experienced a more moderate increase of 9% during the same period.
IndiGo’s market valuation has seen a threefold surge since its initial listing, in stark contrast to United Airlines, which faced a decline of approximately $10 billion over the same timeframe.
On Wednesday, shares of InterGlobe Aviation crossed the ?3000 mark for the first time, marking their longest winning streak since the company went public in 2015.
The stock has been on an upward trajectory for the 12th consecutive session, accumulating a total return of 16% since the streak commenced on November 28.
This remarkable performance is notable, considering that there was only one comparable rally lasting for 11 days, starting from August 23, 2021, since IndiGo’s listing in 2015. However, the previous rally yielded a higher return of 19% compared to the current streak.
IndiGo’s strategic positioning in the market, along with its increasing market share in the absence of Go First, has attracted positive attention. The airline surprised analysts by reporting a net profit in the September quarter, further enhancing its robust market performance.
Photo: Siddh Dhuri/ MumbaiPlanes Instagram
2,000 daily Flights
IndiGo has now reached the milestone of operating over 2,000 scheduled daily flights, encompassing cargo operations and charters for CAPF (Central Armed Police Forces) and the Army. The airline accomplished this feat within 17 years since its inception in 2006.
Pieter Elbers, Chief Executive Officer of IndiGo, expressed, “As we celebrate this remarkable milestone of surpassing 2000 scheduled daily flights, we reflect on IndiGo’s journey of reshaping the Indian aviation landscape. This milestone is more than a numerical feat; it’s a strategic leap positioning us for enhanced connectivity and a redefined passenger experience.”
He added, “Our commitment to giving wings to the nation is palpable in our mission to connect people and aspirations across India. We extend our heartfelt gratitude to our valued customers and partners for their continuous support as we look forward to soaring to new heights together.”
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The post IndiGo Beats United Airlines in Market Cap to Become Sixth Largest in the World appeared first on Aviation A2Z.