IndiGo shares bounce back after three-day fall, jump 5.5% on reports of company placing order for 300 A320neos

IndiGo announced that it had placed an order for 300 A320neo family aircraft, comprising A320neos, A321neos and A321XLRs.

Press Trust of India October 30, 2019 11:16:55 IST
IndiGo shares bounce back after three-day fall, jump 5.5% on reports of company placing order for 300 A320neos
  • The scrip climbed 5.36 percent to Rs 1,485.95 on the BSE

  • On the NSE, it rose by 5.46 percent to Rs 1,486.75

  • The budget carrier on Tuesday announced that it had placed an order for 300 A320neo family aircraft, comprising A320neos, A321neos and A321XLRs

New Delhi: Shares of InterGlobe Aviation bounced back on Wednesday after three days of fall, rising 5.5 percent after IndiGo placed a firm order for 300 A320neo family aircraft.

The scrip climbed 5.36 percent to Rs 1,485.95 on the BSE.

On the NSE, it rose by 5.46 percent to Rs 1,486.75.

IndiGo shares bounce back after threeday fall jump 55 on reports of company placing order for 300 A320neos

File image of an IndiGo plane. Reuters

The budget carrier on Tuesday announced that it had placed an order for 300 A320neo family aircraft, comprising A320neos, A321neos and A321XLRs.

The airline, however, did not disclose the value of order.

With this, IndiGo's total number of A320neo family aircraft order now stands at 730, the airline said in a statement.

Shares of InterGlobe Aviation fell 3 percent on Tuesday after the Directorate General of Civil Aviation (DGCA) asked IndiGo not to use A320 Neo planes which are fitted with PW engines that have already been used for over 3,000 hours, or face grounding of aircraft.

InterGlobe Aviation shares had on Friday tumbled 12 percent, wiping more than Rs 7,600 crore off its market valuation after the company posted a substantial loss in the September quarter.

IndiGo's parent InterGlobe Aviation on Thursday reported widening of its net loss to Rs 1,062 crore for the September quarter, hit by higher costs related to operating lease liabilities.

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