IndiGo, operated by InterGlobe Aviation Ltd., is the best performer among Asia-Pacific airlines, aided by market share gains, a rise in profit and decline in crude prices.
Shares of India's largest airline have surged more than 100 percent in one year, nearly three times the gains in Shanghai-based low-cost airline Spring Airlines Company Ltd., or the second-best performer on the Bloomberg Asia Pacific Airlines Index.
SpiceJet Ltd., which is not part of the index—a 15-member gauge of airline stocks in the Asia-Pacific region—has gained about 69 percent during the year, Bloomberg data showed.
IndiGo shares rallied as the company reported a threefold jump in its Ebitdar (earnings before interest, tax, depreciation and amortisation and rental cost) in the quarter ended June, driven by an increase in airfares after Jet Airways (India) Ltd. was grounded, faster passenger growth and adoption of a new accounting standard. The grounding of Jet Airways also helped IndiGo gain market share. And that came even as IndiGo's promoters are engaged in a bitter boardroom battle.
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