InterGlobe Aviation

Expenses in the quarter increased to Rs 13,680 crore due to a rise in fuel and maintenance costs

A linear profit growth is unlikely for the Indian aviation players as high oil prices hit the industry every two-three years

Sources say the stake put on the block belongs to Gangwal family, which currently holds over 20% in the airline

IndiGo's international business during the quarter stood at 105 per cent compared to pre-Covid levels

Record Rs 1,422-cr quarterly profit comes on the back of best-ever revenue

The airline's international capacity is already at 105% of pre COVID levels and it plans to grow this further in 2023, Pieter Elbers told analysts in a results call

The domestic air traffic capacity reached close to full capacity in Q3, while a pick up in international commercial flights provided the much needed relief to the aviation industry

While Air India remains a high-profile operator in one of the world's biggest aviation markets, customer complaints about a decline in standards have hurt its reputation

Margin levels could see an improvement on higher volumes, price hike

The low-cost airline has been reporting losses for the past four years and is operating less than 50 per cent flights, following the July 27 DGCA order in the wake of mishaps.

IndiGo Airlines co-promoter Rakesh Gangwal and his wife on Thursday divested 2.74 per cent stake in the parent company InterGlobe Aviation for Rs 2,005 crore through open market transactions. Gangwal had resigned from the board of directors of the company in February 2022, stating that he will gradually reduce his equity stake over the next five years. Gangwal along with Rahul Bhatia co-founded the low-cost carrier IndiGo airlines. According to the bulk deal data available with the National Stock Exchange (NSE), Gangwal and his wife Shobha Gangwal sold a total of 1.05 crore shares, amounting to 2.74 per cent stake in the company. The shares were sold in the range of Rs 1,886.47 - Rs 1,901.34 apiece, valuing the transaction at Rs 2,004.77 crore. As of June quarter, Gangwal and his family owned 36.61 per cent stake in the low-cost carrier, where Gangwal and his wife held 14.6 per cent and 8.39 per cent stake, respectively, while the rest of the balance is held by Chinkerpoo Family .

Till 09:26 am; around 19.67 million equity shares, representing 5.1 per cent of the airline's total equity, changed hands on the NSE and BSE.

Stake sale being brokered by three investment banks, says another source; Gangwal and his group currently own 36.6% in InterGlobe Aviation, Bhatia's camp owns 38.17%

RBI Governor on economic uncertainties to Sri Lanka privatising its national airline, here are the top headlines

Even if things improve, it would be hard to keep funding the airline's operations, as the airline has been bleeding money for a while.

CLOSING BELL: ITC, the biggest cigarette maker, and the second largest fast moving consumer goods (FMCG) company in India, regained the market capitalisation of Rs 4 trillion on Friday

Shareholders of InterGlobe Aviation have approved the appointment of three directors and re-appointment of Anil Parashar as a director. At the annual general meeting of the company, the parent of the country's largest airline IndiGo, gave their nod for the appointment of Air Chief Marshal (Retd) Birender Singh Dhanoa and former Shell India chairman Vikram Singh Mehta as independent directors. Former Sebi chief Meleveetil Damodaran has been appointed as a non-independent non-executive director while Anil Parashar has been re-appointed as a director, according to a regulatory filing on Friday. In the three months ended June 2022, the company posted a loss of Rs 1,064 crore.

CLOSING BELL: Technically, shares of NDTV have rallied four-fold since December 2021, staging one of its biggest rally since 2007-08

Stocks to watch today: Adani Group plans to buy 29.18 per cent stake in NDTV; Canara Bank plans to raise up to Rs 3,500 crore via tier II bonds.

InterGlobe Aviation Q1: A strong revival in air passenger traffic going ahead, coupled with better cost management, and network (route) expansion may support IndiGo's profitability in the medium term