IndiGo shares fell due to DGCA action and flight disruption concerns, but stabilization is reported.
Summary
IndiGo's parent company, InterGlobe Aviation, experienced a 7% drop in share value due to the DGCA extending the deadline for the CEO's response to a show-cause notice concerning flight disruptions. Despite this, the airline stated its network is stabilizing with improved on-time performance and fewer cancellations by December 10.
Key Points
- IndiGo's shares declined by 7%.
- The DGCA extended the deadline for CEO Pieter Elbers to respond to a show-cause notice.
- The notice is related to flight disruptions.
- IndiGo reported network stabilization by December 10.
- Improved on-time performance and fewer cancellations are expected.
Full Article
IndiGo's parent company, InterGlobe Aviation, saw its shares drop significantly after the DGCA extended the deadline for CEO Pieter Elbers to respond to a show-cause notice regarding massive flight disruptions. The airline, however, reported its network is stabilizing by December 10 with improved on-time performance and fewer cancellations.