IndiGo has placed one of the largest aircraft orders in global aviation history, with 925 aircraft deliveries secured (pending) until CY35. This includes the A321 XLR for mid-haul and A350 wide-body aircraft for long-haul routes, enhancing its global connectivity and fleet flexibility.
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Motilal Oswal Report
Interglobe Aviation Ltd. is striving to improve its international presence through strategic partnerships and loyalty programs. It served 106.7 million customers in FY24, with a net increase of 63 aircraft.
The company had eight strategic partners with a 27% international share in terms of available seat per kilometer in FY24.
Management has also taken several preemptive measures to increase its global brand awareness as it expects to capture a bigger share of growth in the international market over the coming years. IndiGo is further enhancing its international travel and working relentlessly to adjust schedules to reassure customers.
The stock is trading at ~20x FY26E EPS of Rs 248.9 and ~10 times FY26E EV/Ebitdar. We reiterate our Neutral rating on the stock with a target price of Rs 4,660, based on eight times FY27E EV/Ebitdar.
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