IndiGo shares fall more than 6 pcs due to concerns of the A320neo
New Delhi, December 5 () The shares of InterGlobe Aviation, parent company of IndiGo, fell more than 6 percent on Thursday after the airline said the A320neo problem will affect the company's future capacity.
Shares fell 6.05 percent to close at Rs 1,320 in BSE. In the afternoon trading session, it reached a minimum of Rs 1,316.55, 6.30 percent less than the previous close.
In the NSE, the stock experienced a 6.06 percent decrease to settle at Rs 1,320.55. During the day, it lost as much as 6.29 percent to Rs 1,317.25.
The fall in the price of the shares led to the market capitalization of the company to erode in more than Rs 3,200 million to Rs 50,782.39 million.
With the DGCA ordering IndiGo to replace all A320neo airplanes with unmodified Pratt and Whitney (PW) engines before January 31, the airline designated Wednesday as one of the winds against the 2019-20 revenue, and said that there is likely to be an impact on future capacity.
In addition, an IndiGo A320 aircraft flying to Bangalore on Thursday experienced high engine vibrations in the air and returned to Mumbai airport, according to a senior official. Following persistent problems with P&W engines, the General Directorate of Civil Aviation (DGCA) has already issued several instructions to IndiGo. RUJ SHW SHW