IndiGo’s stock price tanked 8.2 per cent to Rs 4926.55 on Monday amid ongoing flight disruptions and adverse commentary from rating agency Moody’s.
On Monday IndiGo flew 1800 flights (up from 1650 on Sunday) and its on time performance improved to 91 per cent. The airline said it has reduced the number of cancellations and is progressing further on the path of full recovery.
Yet these measures have done little to assuage passengers as large scale cancellations persist. On Monday around 450 cancellations (departures plus arrivals) were reported at major airports.
Investor sentiment too remains negative with the risk of regulatory action adding pressure. Monday saw the seventh straight day of fall in its stock price and 8.2 per cent…
