India saw a 29 per cent rise in domestic passenger numbers in September from a year ago, and airlines like IndiGo and Air India stand to gain the most with smaller rivals like Go Air facing bankruptcy and upstart Akasa Air contending with a pilot shortage.
IndiGo, however, reiterated it would meet its capacity growth targets by leasing more planes from the secondary market and extending leases on existing jets. The airline plans to grow its capacity in the “north of mid-teens” by the end of this fiscal year and expects to double in size by 2030.
The company’s shares hit an intra-day low of 2,598 rupees in early trading but reversed course around mid-day to trade up 0.5 per cent.
Pratt & Whitney parent RTX said in July a rare powder metal defect could lead to the cracking of some engine components in the twin-engine Airbus A320neo, and called for accelerated inspections.