Aviation share price target

remain under pressure. In addition to this, rising input cost environment (ATF to report 4.4x/ 2.6x YoY increase in sales on a lower base (down 46%/ 29% QoQ) and an adj. loss of Rs24.3bn/Rs6.5bn respectively. We continue to prefer INDIGO on the back of 1) its relative balance sheet strength, 2) lowest...

remain under pressure. In addition to this, rising input cost environment (ATF to report 4.4x/ 2.6x YoY increase in sales on a lower base (down 46%/ 29% QoQ) and an adj. loss of Rs24.3bn/Rs6.5bn respectively. We continue to prefer INDIGO on the back of 1) its relative balance sheet strength, 2) lowest...

and an adj. loss of Rs9bn/Rs5.2bn respectively. Rising crude oil prices and second wave of Covid-19 leading to state induced lockdowns/restrictions remain near term headwinds. However, pick up in vaccinations coupled with broad based recovery seen in domestic demand (aided by non-metro cities) and improving cost structures bode well in the medium-long term. We continue to prefer INDIGO on the back of its balance sheet strength, lowest...

and an adj. loss of Rs9bn/Rs5.2bn respectively. Rising crude oil prices and second wave of Covid-19 leading to state induced lockdowns/restrictions remain near term headwinds. However, pick up in vaccinations coupled with broad based recovery seen in domestic demand (aided by non-metro cities) and improving cost structures bode well in the medium-long term. We continue to prefer INDIGO on the back of its balance sheet strength, lowest...

decline in sales and an adj. loss of Rs3.8bn/Rs479mn respectively. Improving scale of operations, various cost initiatives and appreciating rupee will enable narrowing of losses QoQ. INDIGO continues to be better placed in the...

decline in sales and an adj. loss of Rs3.8bn/Rs479mn respectively. Improving scale of operations, various cost initiatives and appreciating rupee will enable narrowing of losses QoQ. INDIGO continues to be better placed in the...

Truncated ops/ Travel restrictions to impact profitability With domestic air travel resuming only from May 25 th at 1/3rd of approved 2020 summer schedule (nearly 2 months after being grounded), we expect 1Q performance to be adversely impacted due to 1) loss of peak summer travel days 2) truncated size of operations 3) little to no ancillary revenues (except for cargo operations) and 4) travel restrictions by state governments adding to confusion, thereby further denting consumer confidence. With the introduction of price brands based on flying time, we expect yields to...

Truncated ops/ Travel restrictions to impact profitability With domestic air travel resuming only from May 25 th at 1/3rd of approved 2020 summer schedule (nearly 2 months after being grounded), we expect 1Q performance to be adversely impacted due to 1) loss of peak summer travel days 2) truncated size of operations 3) little to no ancillary revenues (except for cargo operations) and 4) travel restrictions by state governments adding to confusion, thereby further denting consumer confidence. With the introduction of price brands based on flying time, we expect yields to...

SpiceJet reported domestic Pax/ASK growth of 25% and 36% YoY while its a flattish domestic capacity growth of 0.1% while operating at PLFs of 85.5%. market share stood at 14.8%. IndiGo's domestic Pax/ASK growth was 13% and 26% YoY with a market share of 48.4%. Jet Airways operations suspension created a big vacuum in international travel market from India (35% capacity share at its peak). Sensing an opportunity, IndiGo and SpiceJet have embarked on a fleet/network expansion spree to cater to international travel (within 6-9-hour flying radius...