Monday, March 4, 2024
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HomeStocksInterGlobe Aviation Enters Into Codeshare Partnership With British Airways

InterGlobe Aviation Enters Into Codeshare Partnership With British Airways

InterGlobe Aviation has entered into a codeshare partnership with British Airways. Under this partnership, British Airways will add its code to a couple of destinations across IndiGo’s network and customers can enjoy improved connectivity between India and the United Kingdom for travel. Codeshare flights will be available for travel from October 12, 2023. 

Codesharing allows an airline to book its passengers on its partner carriers and provide seamless travel to destinations where it has no presence. British Airways operates 56 flights a week to five Indian cities — Delhi, Mumbai, Chennai, Bangalore, and Hyderabad. IndiGo already has codeshare partnerships with Turkish Airlines, Qatar Airways, American Airlines, Air France-KLM, Australian carrier Qantas and Virgin Atlantic. IndiGo also has an interline pact with Jetstar. An interline arrangement refers to a pact to issue and accept tickets for flights that are operated by the partner airline. 

Interglobe Aviation Ltd (Indigo) is India’s largest passenger airline operating as a low-cost carrier. Serving 86 destinations including 24 international destinations, it provides passengers with a simple, unbundled product, fulfilling its singular brand promise of providing “low fares, on-time flights, and a courteous and hassle-free service” to its customers. IndiGo commenced operations in August 2006 with a single aircraft and has grown its fleet to 300 aircraft. 

At 12 pm, the shares of Interglobe Aviation were trading at Rs 2381.95, down by 0.18% from its previous closing of Rs 2386.15 on the BSE. Today, the stock opened at Rs 2392.65 and has touched a high and low of Rs 2407 and Rs 2376.75, respectively.  

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high and low of Rs 2,745.95 and Rs 1,676, respectively. Last week high and low of the scrip stood at Rs 2419.60 and Rs 2365.30 respectively. The current market cap of the company is Rs 91,878.20 crore. 

The promoters holding in the company stood at 67.77%, while Institutions and Non-Institutions held 30.20% and 2.02%, respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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