InterGlobe Aviation advances 5%, hits over seven-month high

The company said it has taken a number of actions to mitigate the impact and risks of Covid-19 to its business.

Shares of InterGlobe Aviation (IndiGo) moved higher by 5 per cent, hitting an over seven-month high of Rs 1,393 on the BSE in intra-day trade on Friday. The stock of the airline company was trading at its highest level since February 26, 2020.

In the medium-to-long term, once the Covid-related crisis is over, the demand outlook for aviation remains very strong in India, largely driven by under-penetration, rise in the working population, and expansion of the middle class, the company said in its annual report. 

Furthermore, the rise in trade and tourism is also likely to boost the industry. Based on the