InterGlobe Aviation dives 5.5%; mcap dips Rs 2,287.52 cr

Shares of InterGlobe Aviation, parent of low-cost carrier IndiGo, plunged 5.5 per cent after it said there was no clear visibility about the delivery of A320 neos aircraft by Airbus.
The stock fell by 5.56 per cent to settle at Rs 1,079.25 on BSE. During the day, it declined by 5.92 per cent to Rs 1,075.
On NSE, shares of the company lost 5 per cent to end at Rs 1,082.
In the process, the company's market capitalisation fell by Rs 2,287.52 crore to Rs 38,891.48 crore.
IndiGo on Saturday said there is no clear visibility about the delivery of A320 neos as delivery of the first aircraft has been delayed by Airbus due to "industrial reasons".

The development could throw a spanner in the ambitious growth plans of IndiGo, which has been betting on the more fuel-efficient A320 neos (new-engine option), whose delivery was to start from this month.

In a regulatory filing, InterGlobe Aviation, which runs the airline, said it received an official notification from Airbus on December 17 saying delivery of the first A320 neo aircraft has been "delayed due to industrial reasons".
"At this time, IndiGo does not have a clear visibility of its future A320 neo delivery schedule and the potential for additional delays exists. We are looking at mitigating the potential shortfall in capacity through other options," IndiGo said.

The first A320 neo was to be delivered to IndiGo on December 30.