The DGCA had earlier made it clear to preferentially replace unmodified engine aircraft with the new deliveries INDIGO takes over the coming months rather than deploying on a new/fresh schedule. This will allow the company to make net additions in ASK growth and facilitate flying of new pilots, whose salaries were an overhang and not associated to ASKs. INDIGO is expecting a lag in deliveries of new aircraft owing to various issues faced by Airbus with the family cabin layout of A321neo and a delay in engine deliveries from engine manufacturers (PW and CFM International). We have built in ASK growth of 6%/12% (unchanged) for FY21/22 as INDIGO targets to replace most of the older aircraft by end-FY22 with new deliveries. We expect INDIGO to continue enjoying the streak of highest domestic market share (~48% for 8MFY20) with its ASK growth plan back on track and concerns about delivery delay from Airbus subsiding in CY20.