INDIGO reported a beat on our estimates primarily driven by higher-thanestimated yield (at INR4.4), with RPK being 7% above our estimates. ASK was only 5% lower to pre-COVID levels (of 3QFY20). The Board has appointed Mr. Rahul Bhatia as the Managing Director of the company for five years. Management highlighted that the 3QFY22 capacity reached 88% of preCOVID level with the same being 97% during Dec'21. International capacity...