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InterGlobe Aviation Shares Jump 5.5 Percent After Three-day Fall

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

Updated:October 30, 2019, 11:34 AM IST
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InterGlobe Aviation Shares Jump 5.5 Percent After Three-day Fall
File photo of president of InterGlobe Aviation Limited Aditya Ghosh. (Reuters)

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

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

On the NSE, it rose by 5.46 per cent 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.

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 per cent 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 per cent, 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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