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India-Pakistan air conflict: IndiGo suspends some flights, share price falls over 4%

InterGlobe Aviation share price fell 4.36% to 1,078 level compared to previous close of 1,128 on the BSE.

twitter-logoBusinessToday.In | February 27, 2019 | Updated 14:28 IST
India-Pakistan conflict: IndiGo suspends some flights, share price falls over 4%
InterGlobe Aviation share price has fallen 6.07% since the beginning of this year and lost 17.94% during the last one year.

The InterGlobe Aviation share price fell in afternoon trade today after IndiGo temporarily suspended flights to and from Srinagar, Jammu, Chandigarh, Amritsar and Dehradun due to airspace closure amid reports of air conflict between India and Pakistan. InterGlobe Aviation share price fell 4.36% to 1,078 level compared to previous close of 1,128 on the BSE. InterGlobe Aviation share price has fallen 6.07% since the beginning of this year and lost 17.94% during the last one year.

Meanwhile, GoAir too has suspended some flights due to tension between the two nations.  

"Due to airspace restrictions, flights to and from Srinagar, Leh, Chandigarh and Jammu are currently on hold. Passengers are requested to call 18602 100 999 to modify their reservations, at no extra charge, " GoAir said. 

IAF Surgical Strike 2.0 LIVE: Pak Air Force's F-16 fighter jet shot down; pilot ejected, condition unknown

10 of 19 brokerages rate the InterGlobe Aviation share "buy" or 'outperform', six "hold", one "underperform" and two "sell", according to analysts' recommendations tracked by Reuters.

IndiGo in a communication to the passengers of cancelled flights said change of time and/or date of the flight can be done at no additional cost for the following scenarios:

1) If your flight has been cancelled.

2) If your flight timing has been brought forward by 1 hour or more from the scheduled time of departure.

3) Postponed by 2 hours or more, for travel beyond 48 hours.

A day after India destroyed terrorist camps in Pakistan, both nations were engaged in air conflict today, reports said.

Pakistan Air Force's F-16 that violated Indian air space was shot down in Indian retaliatory fire 3KM within Pakistan territory in Lam valley, Nowshera sector, reported ANI.

Pakistan too claimed it shot down two Indian aircraft.

"In response to PAF strikes this morning as released by MoFA, IAF crossed LOC. PAF shot down two Indian aircrafts inside Pakistani airspace. One of the aircraft fell inside AJ&K while other fell inside IOK. One Indian pilot arrested by troops on ground while two in the area," claimed Major General  Asif Ghafoor, spokesperson, Pakistan Armed Forces.

Edited by Aseem Thapliyal

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