Interglobe Aviaition takes off after signing for 300 A320neo Family aircraft

Shares of Interglobe Aviation were up 1.18% at Rs 1427, snapping their three-day losing streak.

IndiGo has placed a firm order for 300 A320neo Family aircraft. This marks one of Airbus' largest aircraft orders ever with a single airline operator. This latest IndiGo order comprises a mix of A320neo, A321neo and A321 XLR aircraft. This will take IndiGo's total number of A320neo Family aircraft orders to 730.

"This order is an important milestone, as it reiterates our mission of strengthening air connectivity in India, which will in turn boost economic growth and mobility. India is expected to continue with its strong aviation growth and we are well on our way to build the world's best air transportation system, to serve more customers and to deliver on our promise of providing low fares and a courteous, hassle free experience to them," said Ronojoy Dutta, chief executive officer of IndiGo.

InterGlobe Aviation reported a consolidated net loss of Rs 1061.99 crore in Q2 September 2019 as against a net loss of Rs 651.54 crore in Q2 September 2018. Consolidated net sales increased by 31% to Rs 8105.19 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours on 24 October 2019.

The stock tumbled 15.37% in three trading sessions to Rs 1410.30 on 29 Oct 2019 from its previous closing high of Rs 1,666.35 on 24 October.

InterGlobe Aviation is among the fastest growing low cost carriers in the world.

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