IndiGo shares drop 7%, take losing run to 7th session; target prices
The IndiGo stock though recovered some ground and was later trading 3.71 per cent lower at Rs 5,172.10 apiece. IndiGo said it operated over 1,650 flights on Sunday, up from 1,500 on Saturday.
- Dec 8, 2025,
- Updated Dec 8, 2025 9:52 AM IST
InterGlobe Aviation Ltd (IndiGo) saw its shares falling 7 per cent in Monday's trade, taking its losing run to the seventh trading session, as IndiGo reportedly cancelled more than 650 flights on Sunday, even as the disrupted operations were slowly stabilising.
The scrip, declined 6.63 per cent to hit a low of Rs 5,015 crore and is down 15.27 per cent in seven sessions.
The stock though recovered some ground and was later trading 3.71 per cent lower at Rs 5,172.10 apiece. IndiGo said it operated over 1,650 flights on Sunday, up from 1,500 on Saturday. IndiGo said its on-time performance improved to 75 per cent from 30 per cent a day earlier, adding that refund and luggage processing were running at full scale for both direct and indirect bookings.
Among brokerages, UBS has maintained its 'Buy' rating on the stock but cut its target price to Rs 6350 apiece. Jefferies said the airline is recalibrating schedules and expects normalcy by mid-December. It retained its 'Buy' on the stock with a target of Rs 7,025. Investec said IndiGo must comply with the new FDTL norms by February 10, 2026. Calling the situation "Bad just goes worse", it cut its target price on IndiGo to Rs 4,040 apiece. Domestic brokerage JM Finance said the passing turbulence may trigger some lasting cost pressures.
A report by Bloomberg suggested that IndiGo’s CEO Pieter Elbers has been asked by the Directorate General of Civil Aviation to explain the cancellations.
The IndiGo update followed the airline’s decision to establish a Crisis Management Group (CMG) comprising Chairman Vikram Singh Mehta, board directors Gregg Saretsky, Mike Whitaker and Amitabh Kant, and Chief Executive Pieter Elbers. The CMG’s mandate is to address cancellations and flight delays and restore operational integrity across the network as swiftly as possible.
On Friday, Elbers had acknowledged severe operational disruptions over recent days, noting that more than 1,000 flights were cancelled on December 5 alone. He attributed the widespread cancellations to a major reboot of the airline’s operational systems. “We have experienced severe operational disruptions for the past few days… with December 5 being the most severely impacted day, with cancellations well over a thousand, or more than half of our daily flights,” he said in a video message to passengers.
IndiGo said on Sunday that the CMG had been meeting regularly and was receiving continuous updates from management on restoration measures. There were also multiple telephonic discussions with directors outside the CMG.
“The objective of these meetings and exchanges is to address, as quickly as practically possible, the hardships faced by our customers and stakeholders while restoring operational integrity across the network. The Board of Directors is doing everything possible to address these challenges and to ensure refunds on cancellations and waivers on cancellation or rescheduling during the period of crisis,” an IndiGo spokesperson said.
With a fleet exceeding 400 aircraft, IndiGo operates more than 2,300 daily flights, connects over 90 domestic and 45 international destinations, inducted 58 aircraft in 2024, and served more than 118 million customers in FY25.
InterGlobe Aviation Ltd (IndiGo) saw its shares falling 7 per cent in Monday's trade, taking its losing run to the seventh trading session, as IndiGo reportedly cancelled more than 650 flights on Sunday, even as the disrupted operations were slowly stabilising.
The scrip, declined 6.63 per cent to hit a low of Rs 5,015 crore and is down 15.27 per cent in seven sessions.
The stock though recovered some ground and was later trading 3.71 per cent lower at Rs 5,172.10 apiece. IndiGo said it operated over 1,650 flights on Sunday, up from 1,500 on Saturday. IndiGo said its on-time performance improved to 75 per cent from 30 per cent a day earlier, adding that refund and luggage processing were running at full scale for both direct and indirect bookings.
Among brokerages, UBS has maintained its 'Buy' rating on the stock but cut its target price to Rs 6350 apiece. Jefferies said the airline is recalibrating schedules and expects normalcy by mid-December. It retained its 'Buy' on the stock with a target of Rs 7,025. Investec said IndiGo must comply with the new FDTL norms by February 10, 2026. Calling the situation "Bad just goes worse", it cut its target price on IndiGo to Rs 4,040 apiece. Domestic brokerage JM Finance said the passing turbulence may trigger some lasting cost pressures.
A report by Bloomberg suggested that IndiGo’s CEO Pieter Elbers has been asked by the Directorate General of Civil Aviation to explain the cancellations.
The IndiGo update followed the airline’s decision to establish a Crisis Management Group (CMG) comprising Chairman Vikram Singh Mehta, board directors Gregg Saretsky, Mike Whitaker and Amitabh Kant, and Chief Executive Pieter Elbers. The CMG’s mandate is to address cancellations and flight delays and restore operational integrity across the network as swiftly as possible.
On Friday, Elbers had acknowledged severe operational disruptions over recent days, noting that more than 1,000 flights were cancelled on December 5 alone. He attributed the widespread cancellations to a major reboot of the airline’s operational systems. “We have experienced severe operational disruptions for the past few days… with December 5 being the most severely impacted day, with cancellations well over a thousand, or more than half of our daily flights,” he said in a video message to passengers.
IndiGo said on Sunday that the CMG had been meeting regularly and was receiving continuous updates from management on restoration measures. There were also multiple telephonic discussions with directors outside the CMG.
“The objective of these meetings and exchanges is to address, as quickly as practically possible, the hardships faced by our customers and stakeholders while restoring operational integrity across the network. The Board of Directors is doing everything possible to address these challenges and to ensure refunds on cancellations and waivers on cancellation or rescheduling during the period of crisis,” an IndiGo spokesperson said.
With a fleet exceeding 400 aircraft, IndiGo operates more than 2,300 daily flights, connects over 90 domestic and 45 international destinations, inducted 58 aircraft in 2024, and served more than 118 million customers in FY25.