Shares of InterGlobe Aviation, the parent of IndiGo, have fallen more than 7 per cent over the past four trading sessions as the airline battles a severe operational crisis that has triggered large-scale flight cancellations and left thousands of passengers stranded.On Friday, the stock slipped 1.22 per cent to close at Rs 5,371.30 on the BSE after dropping as much as 3.15 per cent intraday to Rs 5,266. On the NSE, it ended 1.27 per cent lower at Rs 5,367.50. Since December 1, the company’s market capitalisation has eroded by Rs 16,190.64 crore to Rs 2,07,649.14 crore.
India’s air travel network remained disrupted for a fourth consecutive day as IndiGo — which commands nearly two-thirds of domestic traffic — cancelled more than 1,000 flights, including all departures from New Delhi. Passengers reported being stranded for hours with limited clarity on alternatives.The crisis stems from new pilot flying-time regulations that increase weekly rest requirements to 48 hours and cap night-time landings at two per week, down from six. IndiGo has attributed the mass cancellations to “misjudgment and planning gaps”.CEO Pieter Elbers said on Friday that operations are expected to normalise between December 10 and 15.
