IndiGo's stock declined due to flight disruptions; brokerages adjusted targets, impacting the aviation sector.
Summary
IndiGo's parent company, InterGlobe Aviation, experienced a significant stock decline due to large-scale flight cancellations and delays caused by pilot duty-time rule changes. Brokerages have reduced price targets, but some, like UBS, maintain a positive outlook, citing long-term growth and international expansion.
Key Points
- InterGlobe Aviation (IndiGo's parent) stock fell by 15% over seven sessions.
- Flight cancellations and delays were caused by pilot duty-time rule changes.
- Brokerages have cut price targets.
- UBS maintained a 'Buy' call, emphasizing long-term growth.
- The news relates to the aviation sector and market performance.
Full Article
IndiGo’s parent InterGlobe Aviation slumped, extending its seven-session slide to 15%, as major pilot duty-time rule changes caused record flight cancellations and prompted brokerages to cut price targets. Despite higher costs and operational setbacks, UBS retained its Buy call, citing IndiGo’s strong long-term growth and international expansion strategy.