InterGlobe Aviation Ltd. share price target

EBITDA inline, PAT above est; ups FY17 fleet addition; payout at >90% IndiGo's 4QFY16 EBITDAR was in line at INR 15b (+7.3% YoY, -9.7% QoQ). EBITDA was largely in line at INR8.1b (6% YoY, -19% QoQ). 4QFY16 PAT at INR5.7b (est. INR5.1b, flat...

Company operate IndiGo, India's largest passenger airline with a 33.9% and 37.4% market share of domestic passenger volume for fiscal 2015 and the five months ended August 31, 2015, respectively, according to the DGCA. The Company operates on a low-cost carrier, or LCC, business model and focus primarily on the domestic Indian air travel market. Indigo was the seventh largest low-cost carrier globally in terms of seat capacity in fiscal 2015, according to CAPA. Company continuously focus on maintaining their cost advantage and a high frequency of flights while striving to fulfill their simple brand message of providing low fares, on-time flights and a hassle-free experience to their passengers. The company commenced operations in August 2006 with a single aircraft, and has grown their fleet to 97 aircraft as of August 31, 2015, all of which are Airbus A320 aircraft. Currently company has an order book of 430 A320neo aircraft and...