Indigo’s health is improving, company’s big claim, shares can become rocket

The health of the country’s largest low cost airline Indigo seems to be improving. This claim has been made by the company itself. The company has said that they have operated 1,650 flights on Sunday. It was also claimed by the company that the company is slowly but surely reaching normalcy. After this statement, an increase in the company’s shares may be seen on Monday. Last week a decline of 9 percent was seen in the company’s shares. Let us also tell you what has been said by the company? Also, what kind of story are the company’s figures telling in the stock market?

Claims to operate 1650 flights

Peter Elbers, Chief Executive Officer (CEO) of IndiGo, the country’s largest airline, said on Sunday that the airline will operate about 1,650 flights on Sunday and gradually we are returning towards normalcy. Thousands of passengers have suffered a lot due to hundreds of flights being canceled and delayed in the last few days. The country’s largest airline had operated only about 1,500 flights on Saturday and a little more than 700 flights on Friday.

Expected to be 75 percent OTP

In an internal video message released to employees, Albers said on-time performance (OTP) is expected to be 75 percent on Sunday. He said that today we have made further improvements in the system, due to which we are able to operate about 1,650 flights. This video message was issued from the airline’s operations control center. The CEO said that now we are canceling the flights in the first phase itself, so that the passengers whose flights are being canceled do not reach the airport. According to IndiGo, operations have resumed at 137 out of 138 destinations on December 7.

Shares of the company may rise

After this statement, a rise in the shares of the company can be seen on Monday i.e. today. According to BSE data, Indigo shares closed at Rs 5371.30 on Friday with a decline of 1.22 per cent. Last week a decline of 9 percent was seen in the company’s shares. On the last trading day of last month, the company’s shares were at Rs 5,902.70. On the last trading day of last week, the company’s shares had seen a fall of Rs 531.4. If experts are to be believed, an increase in the company’s shares may be seen on Monday.

Refund of Rs 610 crore

On the other hand, Indigo has so far completed the process of refund of Rs 610 crore for canceled or highly delayed flights. Till Saturday, 3,000 pieces of luggage have been delivered to the passengers. Giving information, the government said that the country’s aviation network is rapidly returning to normalcy and all corrective measures will remain in place until operations are completely stable. The government on Saturday had directed the airlines to complete the refund of tickets related to canceled flights by Sunday evening and the left luggage of the passengers should be delivered to them within the next 48 hours. The ministry said that swift and effective steps have been taken to address the disruption caused by IndiGo’s recent operational crisis, so that passengers do not face any further inconvenience.

No charge will be taken

The Civil Aviation Ministry said in its release that Indigo has so far completed the process of refund of Rs 610 crore. No additional fee will be charged for rescheduling the journey of passengers affected by canceled flights. Special help centers have been set up to assist passengers, so that issues related to refunds and re-booking can be resolved quickly. The ministry said that air services are rapidly becoming normal across the country. All other domestic airlines are operating flights smoothly at full capacity, while IndiGo’s performance is also continuously improving.

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