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InterGlobe Aviation gains after signing codeshare agreement

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InterGlobe Aviation rose 0.57% to Rs 1,160.05 at 09:28 IST on BSE after the company signed a codeshare and mutual cooperation agreement with Turkish Airlines.

The announcement was made after market hours on Friday, 21 December 2018.

Meanwhile, the S&P BSE Sensex was up 74.64 points, or 0.21% to 35,816.71

On the BSE, 2,631 shares were traded in the counter so far compared with average daily volumes of 58,000 shares in the past two weeks. The stock had hit a high of Rs 1165 and a low of Rs 1150 so far during the day.

IndiGo and Istanbul-based Turkish Airlines, a member of Star Alliance, announced a codeshare and mutual cooperation agreement. The signed codeshare and mutual cooperation agreement between the two carriers, the effectiveness of which is subject to receipt by IndiGo and Turkish Airlines of all necessary board and regulatory approvals, will enable both carriers to provide more flexibility of choice to their respective customers to fly on sectors between India, Istanbul and beyond.

This is the first codeshare agreement for IndiGo as part of. its international expansion strategy. Through this cooperation, Turkish Airlines will be offering new destinations in India as Marketing Carrier on IndiGo operated flights, while IndiGo customers will be able to reach many European destinations through Turkish Airlines' extensive network.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo. With its fleet of over 200 aircraft, the airline offers over 1300 daily flights and connects 52 domestic destinations and 15 international destinations.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 24 2018. 09:35 IST