Go First bankruptcy: IndiGo, SpiceJet good momentum plays, say analysts

Apart from IndiGo, Tata group-owned Air India, could be the second key beneficiary given its strong fleet and balance-sheet strength

Wadia Group-owned Go First Airways’ (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts.

On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday’s intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece.

Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent