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Credit Suisse bets on consolidation in the industry and believes the airline is set to benefit from the same
InterGlobe Aviation, the parent firm of IndiGo airlines, crash landed on the bourses on Wednesday, a day after the airline posted its highest ever quarterly loss of Rs 3,147.17 crore for April-June quarter of FY22 (Q1FY22).
The company's shares dropped 4.6 per cent to Rs 1,627 on the BSE in the intra-day deals as the airline's operations faced a severe blow due to the second wave of Covid-19. Yet, analysts remain largely bullish on the stock and see up to 34 per cent upside over the next one year even though near-term headwinds may continue to weigh.
"A combination of volatile demand trends over February to May and a sustained demand-supply mismatch at an industry level took out most
First Published: Jul 28 2021 | 11:22 AM IST