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IndiGo aims to become global player by 2030, says report; shares in focus

Upstox
By Upstox News Desk

2 min read | Updated on September 12, 2024, 09:09 IST

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SUMMARY

The airline, which controls over 60% of India's total domestic traffic, is looking at changing its image from only a domestic carrier to becoming a global player. In a year, shares of the company have rallied 96%.

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INDIGO
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The airline; however, said it won't let go of the original mantra of providing low-cost travel to Indian passengers. 

The airline; however, said it won't let go of the original mantra of providing low-cost travel to Indian passengers. 

Shares of InterGlobe Aviation, the operator of low-cost carrier IndiGo, will be on investors' radar on Thursday, September 12, amid the reports of the company's 2.0 plans. The airline, which controls over 60% of India's total domestic traffic, is looking at changing its image from only a domestic carrier to becoming a global player.
In an interview with business channel CNBC-TV18, the airline's CEO, Pieter Elbers, said IndiGo's aim is to become a global airline by 2030.
"India will be the third-largest economy by 2030; it will be stronger, closer, and deeply connected to many other countries. That requires airlines with size and scale that can operate and compete on a global basis. So all the decisions that we have taken over the past two years are part of that ambition and objective of being a global airline player by 2030," CEO Pieter Elbers told CNBC-TV18.

The report said, "IndiGo started as a low-cost model and grew on the philosophy of providing affordable and reliable travel to Indian passengers. While the airline starts to focus on premiumising its services with the business class, loyalty programme, and big planes, the CEO said it won't let go of the original mantra of providing low-cost travel to Indian passengers but will rather offer more choices to the customer who is ready to pay more."

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"Our ambition to keep cost leadership in this incredibly competitive Indian market will remain. But if the additional costs of complexity are outweighed by the additional revenues, we should go after that opportunity. We are determined to keep our cost leadership, and we are not making any changes to that product," Pieter Elbers added.

In a year, shares of the company have rallied 96%. In comparison, the NIFTY50 index has gained 25% during the period. 

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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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