Indigo says flight ban may continue till 14 April

InterGlobe Aviation on Wednesday said that the restrictions on the operation of international and domestic flights is likely to continue till 14 April 2020.

In an exchange filing made after market hours yesterday, the low cost carrier said that as a temporary measure to restrict the spread of COVID-19, the Government of India, through the Ministry of Civil Aviation, has suspended all scheduled commercial international flights into and/or out of India from 22 March 2020 until 29 March 2020.

Further, by its circular dated 23 March 2020, the Ministry of Civil Aviation has directed that the operations of all scheduled domestic flights (except allcargo flights) should cease from 24 March 2020 (23:59 hours IST) until 31 March 2020 (23:59 hrs).

Accordingly, the company has suspended the operation of all its international and domestic flights in compliance with the aforementioned directions/orders of the Ministry of Civil Aviation.

It added that given the National lockdown announced by the Government of India with effect from 12:00 am on 25 March 2020 until 14 April 2020, it is likely that these restrictions on the operation of the company's international and domestic flights will continue until 14 April 2020.

Meanwhile, shares of InterGlobe Aviation rose 2.82% to Rs 1039.95, extending gains for third day. The stocks has added 22.34% in three sessions from its recent closing low of Rs 850.05 recorded on 23 March 2020.

The company reported a consolidated net profit surged 167.8% to Rs 495.97 crore on a 25.5% jump in net sales to Rs 9,931.69 crore in Q3 December 2019 over Q3 December 2018.

Interglobe Aviation (Indigo) is among the fastest growing low cost carriers in the world.

Powered by Capital Market - Live News