|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||1,196.55 - 1,251.00|
|52-week range||771.30 - 1,898.85|
|Beta (5Y monthly)||0.38|
|PE ratio (TTM)||N/A|
|Earnings date||12-Oct-2020 - 16-Oct-2020|
|Forward dividend & yield||5.00 (0.44%)|
|1y target est||973.44|
IndiGo, India's largest airline, said on Wednesday it planned to raise at least 20 billion rupees ($268 million) through the sale and leaseback of planes and other assets, after reporting its steepest quarterly loss in at least five years. Chief Financial Officer Aditya Pande said the airline, owned by Interglobe Aviation Ltd, would consider raising even more than 20 billion rupees and the board would meet on Thursday to discuss this. "Managing cash continues to remain our primary focus and we continue to work with all our stakeholders to raise liquidity," Pande told analysts on a call, adding it was in advanced talks on selling and leasing back some of its unencumbered assets.
IndiGo, India's biggest airline, plans to cut up to 40 billion rupees ($533 million) in costs and speed up the return of older planes to leasing companies as it grapples with the fallout from the coronavirus pandemic. IndiGo has around 120 older A320ceo planes that cost more to maintain and plans to return them to leasing firms over the next two years, depending on demand, CEO Ronojoy Dutta said, adding domestic travel was likely to return sooner than international. "In times like these, we must shift our focus from profitability and growth to managing cash and liquidity," Dutta said, after parent Interglobe Aviation reported a swing to a quarterly net loss.
BENGALURU/NEW DELHI (Reuters) - IndiGo, India's biggest airline, cut its estimates for capacity growth for a second straight quarter on Monday, to rein in maintenance costs and improve aircraft utilisation amid a spate of groundings. IndiGo has been forced to ground several of its Airbus A320neo planes fitted with Pratt & Whitey engines, which have been linked to in-flight engine shutdowns. Low aircraft utilisation and delivery delays from Airbus were the driving factors behind the cut, Chief Executive Officer Ronojoy Dutta told analysts during a post-earnings call, adding that IndiGo aimed to raise utilisation to about 13 hours a day from the current 12.2 hours.