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          Home » By the end of 2024, IndiGo plans to have 350 aircraft in its fleet

          By the end of 2024, IndiGo plans to have 350 aircraft in its fleet

          Shweta Shukla by Shweta Shukla
          March 24, 2023
          in Airline News, Aviation News, News
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          As many as 490 aircraft are expected to join IndiGo’s fleet by the end of the decade, and the airline expects to carry 100 million passengers in FY24. IndiGo now holds a market share of 55% in the domestic market.

          IndiGo

          By the conclusion of the fiscal year in 24 (FY24), IndiGo expects to have a fleet of 350 aircraft, a 14% increase from FY23. According to a presentation given at the analyst meeting on March 23, the airline firm also wants to increase its size and scope by 2030.

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          IndiGo | Aviationa2z.com

          With a market share of 55% and plans to add up to 490 aircraft to its fleet by the end of the decade, including several Airbus XLRs that will allow it reach Europe, Air India is the largest domestic carrier in India.

          InterGlobe Aviation Limited

          The share price of InterGlobe Aviation Limited, which runs IndiGo, was down around 0.3 percent on the NSE at 10:50 am and trading at Rs 1,901.

          Even though IndiGo has more orders than its competitors, the airline’s management claimed it is unclear what the forecast for capacity increase by competitors is. It holds that given the promising demand future for India’s aviation industry, competition cannot be disregarded.

          A 100 million passenger increase from FY23 is also anticipated by Indigo for FY24. With 104 total destinations, 78 of which are domestic and the remaining 15 are international, it also plans to increase that number by 10 to 15 by the end of FY24.

          IndiGo | Aviationa2z.com

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          With seven other airlines, Indigo has code-sharing agreements, and it is actively seeking out new ones. Within the next one to two years, it wants to raise its available seat kilometer (ASK) to 30%, which is a gauge of an airline’s potential to carry passengers and earn money.

          As a result of the expansion, the airline will hire rapidly.

          The brokerage company Macquarie has rated IndiGo as “outperform” and set a target price of Rs 2,600 for the stock. It thinks the business’s foreign growth will fuel its ensuing phase of growth, and momentum will continue until FY24.

          With a price target of Rs 2,400, CITI has assigned a “buy” rating. It claimed that, after accounting for seasonality, the airline’s current yield trends are generally robust.

          According to Kotak Institutional Equities, significant stock overhang may still exist due to the anticipated sale of Gangwal’s holding, volatility in crude prices, and foreign exchange. On the airline stock, it still has a “buy” recommendation.

          IndiGo | Aviationa2z.com

          Since fuel accounts for more than 40% of expenditures, Jefferies anticipates that Indigo would gain from the recent drop in crude oil prices; nonetheless, it maintains a “underperformed” rating on the airline due to its belief that growing competition intensity could have an impact in the medium run.

          Thank you

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          Shweta Shukla

          Shweta Shukla

          Journalist - A graduate in India, Shweta has a passion for aviation and travel. She has an interest in Aviation Journalism and she writes articles for Aviation A2Z for 1+ years.

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