IndiGo Surpasses United Airlines, Emerges As 6th Largest Global Carrier By Market Value

IndiGo secured the sixth spot in global market cap on December 13, surpassing United Airlines in market capitalization
InterGlobe Aviation
InterGlobe Aviation

On December 13, IndiGo, India's leading aviation firm, achieved a milestone by advancing its position in the global market cap league table. The airline surpassed United Airlines to claim the sixth spot, closely following Singapore Airlines.

Closing Wednesday's trading, InterGlobe Aviation holds a market valuation of $13.8 billion, marking a margin of approximately $310 million higher than that of United Airlines, as per data compiled by Bloomberg.

Since its initial listing, IndiGo's market valuation has tripled, while United Airlines experienced a $10-billion decline during this timeframe. The budget carrier expanded its market share after Go First suspended operations.

On a year-to-date basis, IndiGo (InterGlobe Aviation) has recorded a gain of over 45 per cent or 933 points on the National Stock Exchange, whereas United Airlines has delivered a return of just 11 per cent on NASDAQ during the same period.

Despite InterGlobe Aviation's notable success, it trails considerably trails behind United Airlines, in terms of revenue, a company seven times its size. United Airlines declared a robust net revenue of $52.5 billion for the twelve months ending in September 2023. In sharp contrast, IndiGo's revenue for the same period, as per sources cited by CNBC TV18, amounted to $7.4 billion.

On Wednesday, InterGlobe Aviation's shares surged past the Rs 3000 milestone, achieving the longest consecutive winning streak since the company went public in 2015, as per Bloomberg data. IndiGo's stock has maintained its upward trajectory for the 12th consecutive session, accumulating a total return of 16 per cent since the streak commenced on November 28.

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