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IndiGo on a steady climb but competition could clip its wings
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₹4.85. Further, the drop in prices of aviation turbine fuel bodes well for margin.
Beyond Q1, the strength in yield requires closer tracking. “In July-23, occupancy across carriers have slipped reflecting seasonality and such is also reflecting in moderation in fares," said analysts at Jefferies India in a report on 13 July.
However, the demand supply dynamics remain favourable, which is a positive. Further, one needs to keep an eye on fuel prices.
Jefferies analysts note that aviation turbine fuel prices increased 2% month-on-month to ₹92,000 per litre in July, clocking the first increase in six months. Nonetheless, factoring a brig-hter picture adequately, IndiGo’s shares have gained by 32% so far in 2023.
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