IndiGo soared past global giants like Delta Air Lines and Ryanair this week to briefly claim the title of the world’s most valuable airline by market capitalisation.
The low-cost carrier’s market value surged past Rs 2 lakh crore ($23.3 billion), buoyed by a 13% rally in its stock so far this year—defying broader market weakness that has pulled the Nifty down nearly 6% year-to-date.
Dominating over 60% of India’s domestic aviation market, IndiGo is now setting its sights firmly on international skies. The airline recently shared with analysts its ambition to ramp up the share of international operations to 40% of its available seat kilometers (ASK) by FY30, up from an estimated 28% in FY25. To support this growth, IndiGo plans to add 50 aircraft in FY26 to its existing fleet of 439, though about 50 remain grounded.
Despite the sharp rise in valuation, the airline’s parent company, InterGlobe Aviation Ltd, reported an 18% drop in net profit for Q3 FY25 at Rs 2,449 crore, compared to Rs 2,998 crore a year earlier. The dip was largely attributed to the timing of the festival season, which boosted Q3 performance in the previous fiscal year.
However, revenue rose 14% year-on-year to Rs 22,111 crore, underpinned by a 12% increase in ASK and a 13.5% rise in revenue passenger kilometres (RPK). The load factor improved to 86.9%, marking a 1.2 percentage point gain, signaling continued strength in travel demand.