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IndiGo hits record high on placing $5 bn order for 30 wide-body aircraft

The boost came after the company's announcement of venturing into the wide-body space with an order placement for 30 Firm A350-900 aircraft

Photo: Bloomberg

Photo: Bloomberg

SI Reporter

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Shares of IndiGo climbed as much as 3.76 per cent to hit an intraday high of Rs 3,958.65 apiece, on Friday. 

The boost came after the company's announcement of venturing into the wide-body space with an order placement for 30 Firm A350-900 aircraft.

These A350-900s will be equipped with Rolls Royce's Trent XWB engine. The company stated, "The exact configuration of the aircraft will be decided at a later stage, and the deliveries are expected to start from 2027."

Pieter Elbers, CEO of IndiGo, said, “Today’s historic moment marks a new chapter for IndiGo and will further shape the future of the airline and for Indian aviation at the same time. For IndiGo, after successfully pioneering the Indian skies with an unprecedented journey, its fleet of 30 Airbus A350-900 aircraft will allow IndiGo to embark on its next phase of becoming one of the leading global aviation players. At IndiGo, we take pride in being India’s preferred airline and for offering connectivity to our customers, in and with India. This reaffirms IndiGo’s belief in, and commitment to, the growth of India, and in our strategic partnership with Airbus.”

IndiGo has also secured Purchase Rights for an additional 70 Airbus A350 Family aircraft, providing flexibility for future needs under specific conditions.

Currently, IndiGo operates a fleet of over 350 aircraft. Last June, the airline placed the largest-ever single aircraft order of 500 aircraft with Airbus. 

The A320 Family aircraft order book now stands at nearly 1,000 aircraft, which are scheduled for delivery well into the next decade. This includes a mix of A320NEO, A321NEO, and A321XLR aircraft.

Furthermore, IndiGo announced that it will be hosting a conference call on Tuesday, April 30.

The market capitalisation of IndiGo is over Rs 1.50 lakh crore, according to BSE. 

IndiGo’s stock’s 52-week low is Rs 2,007.05. However, at 11:15 am, shares of IndiGo were trading 2.51 per cent higher at Rs 3,910.90 per share.

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First Published: Apr 26 2024 | 11:31 AM IST

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